Wendell David Associates Inc. Lowers Stock Holdings in McDonald’s Corporation $MCD

Wendell David Associates Inc. trimmed its stake in McDonald’s Corporation (NYSE:MCD) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,252 shares of the fast-food giant’s stock after selling 428 shares during the period. McDonald’s makes up about 2.2% of Wendell David Associates Inc.’s investment portfolio, making the stock its 12th biggest position. Wendell David Associates Inc.’s holdings in McDonald’s were worth $21,694,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MCD. Brighton Jones LLC boosted its position in McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after buying an additional 1,649 shares during the period. Revolve Wealth Partners LLC boosted its position in McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after buying an additional 52 shares during the period. Quotient Wealth Partners LLC boosted its position in McDonald’s by 10.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after buying an additional 258 shares during the period. SSA Swiss Advisors AG purchased a new stake in shares of McDonald’s in the 1st quarter worth approximately $175,000. Finally, GAMMA Investing LLC lifted its position in shares of McDonald’s by 25.3% in the 1st quarter. GAMMA Investing LLC now owns 11,198 shares of the fast-food giant’s stock worth $3,498,000 after purchasing an additional 2,261 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.9%

NYSE MCD opened at $308.02 on Friday. The firm has a market cap of $219.80 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50. The company has a 50 day moving average price of $306.29 and a 200 day moving average price of $305.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm 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%. McDonald’s’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.97 EPS. On average, equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 60.67%.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MCD has been the subject of several research reports. Truist Financial lowered their price target on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada initiated coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target for the company. Wells Fargo & Company lowered their price target on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus upped their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. Finally, TD Cowen upped their price target on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $324.68.

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.