Kingswood Wealth Advisors LLC Sells 23,108 Shares of McDonald’s Corporation $MCD

Kingswood Wealth Advisors LLC lowered its stake in shares of McDonald’s Corporation (NYSE:MCD) by 78.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,449 shares of the fast-food giant’s stock after selling 23,108 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in McDonald’s were worth $1,884,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nova Wealth Management Inc. bought a new position in McDonald’s during the 1st quarter valued at about $26,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. Abound Financial LLC bought a new position in shares of McDonald’s in the 1st quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the 1st quarter worth approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of McDonald’s in the 1st quarter worth approximately $31,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Up 0.1%

McDonald’s stock opened at $296.35 on Wednesday. The firm has a 50 day moving average of $306.74 and a 200 day moving average of $306.02. The firm has a market capitalization of $211.47 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 3.01 and a beta of 0.50. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $2.97 EPS. On average, analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MCD shares. Guggenheim reiterated a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. TD Cowen increased their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Piper Sandler increased their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Finally, Stifel Nicolaus increased their target price on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and an average target price of $325.86.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.