McDonald’s Corporation $MCD Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC reduced its stake in McDonald’s Corporation (NYSE:MCD) by 1.5% in the 2nd quarter, Holdings Channel reports. The firm owned 2,756 shares of the fast-food giant’s stock after selling 42 shares during the quarter. ELCO Management Co. LLC’s holdings in McDonald’s were worth $805,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MCD. Brighton Jones LLC increased its holdings 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 purchasing an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of McDonald’s by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after acquiring an additional 52 shares in the last quarter. Quotient Wealth Partners LLC grew its stake in shares of McDonald’s by 10.9% during the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after acquiring an additional 258 shares in the last quarter. SSA Swiss Advisors AG acquired a new stake in shares of McDonald’s during the first quarter valued at about $175,000. Finally, Golden State Wealth Management LLC grew its stake in shares of McDonald’s by 11.7% during the first quarter. Golden State Wealth Management LLC now owns 2,751 shares of the fast-food giant’s stock valued at $859,000 after acquiring an additional 289 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

NYSE:MCD opened at $306.79 on Wednesday. The company has a market capitalization of $218.93 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 3.31 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a 50-day simple moving average of $306.44 and a 200 day simple moving average of $305.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $2.97 earnings per share. On average, equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is 60.67%.

Insider Buying and Selling

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 5,463 shares of company stock worth $1,692,186. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Barclays raised their target price on McDonald’s from $360.00 to $362.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Melius assumed coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 target price for the company. Finally, Piper Sandler restated a “neutral” rating and set a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Eleven 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $323.43.

About McDonald’s

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.