E&G Advisors LP Sells 100 Shares of McDonald’s Corporation $MCD

E&G Advisors LP reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 8.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,109 shares of the fast-food giant’s stock after selling 100 shares during the period. E&G Advisors LP’s holdings in McDonald’s were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. acquired a new stake in McDonald’s in the 4th quarter valued at about $25,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the 1st quarter valued at about $26,000. Abound Financial LLC acquired a new stake in McDonald’s in the 1st quarter valued at about $30,000. Finally, Copia Wealth Management acquired a new stake in McDonald’s in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $303.47 on Tuesday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The firm’s 50 day moving average price is $306.09 and its two-hundred day moving average price is $306.29. The firm has a market cap of $216.56 billion, a P/E ratio of 26.00, a PEG ratio of 3.08 and a beta of 0.49.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 for 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 firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 earnings per share. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Insider Buying and Selling at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. TD Cowen lifted 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. Citigroup lifted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Truist Financial lifted their price target on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Barclays lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. Eleven 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 company’s stock. According to MarketBeat, McDonald’s 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.