LRI Investments LLC Cuts Stake in McDonald’s Corporation $MCD

LRI Investments LLC cut its stake in McDonald’s Corporation (NYSE:MCD) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,994 shares of the fast-food giant’s stock after selling 51 shares during the quarter. LRI Investments LLC’s holdings in McDonald’s were worth $2,043,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Valley Brook Capital Group Inc. raised its position in McDonald’s by 0.9% in the second quarter. Valley Brook Capital Group Inc. now owns 6,815 shares of the fast-food giant’s stock valued at $1,991,000 after purchasing an additional 60 shares during the period. CWM LLC increased its position in shares of McDonald’s by 6.9% during the second quarter. CWM LLC now owns 97,131 shares of the fast-food giant’s stock worth $28,379,000 after acquiring an additional 6,280 shares during the last quarter. Advocate Group LLC increased its position in shares of McDonald’s by 1.0% during the second quarter. Advocate Group LLC now owns 31,526 shares of the fast-food giant’s stock worth $9,211,000 after acquiring an additional 301 shares during the last quarter. Wealth Advisory Team LLC purchased a new stake in shares of McDonald’s during the second quarter worth about $240,000. Finally, Lodestar Private Asset Management LLC increased its position in shares of McDonald’s by 4.6% during the second quarter. Lodestar Private Asset Management LLC now owns 2,358 shares of the fast-food giant’s stock worth $689,000 after acquiring an additional 104 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCD has been the subject of a number of research reports. KeyCorp reiterated an “overweight” rating and issued a $335.00 price target (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial lifted their price target on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday. Finally, Evercore ISI lifted their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Hold” and a consensus target price of $325.18.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 in the last three months. 0.25% of the stock is currently owned by company insiders.

McDonald’s Trading Up 1.1%

Shares of NYSE MCD opened at $297.07 on Friday. The stock has a 50 day simple moving average of $306.31 and a 200-day simple moving average of $305.74. The company has a market cap of $211.99 billion, a PE ratio of 25.46, a P/E/G ratio of 3.12 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 issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 earnings per share. Sell-side analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.4%. McDonald’s’s payout ratio is presently 60.67%.

McDonald’s Company 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.