McDonald’s Corporation $MCD Stock Position Decreased by Exeter Financial LLC

Exeter Financial LLC lessened its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 17,508 shares of the fast-food giant’s stock after selling 461 shares during the quarter. McDonald’s makes up 2.3% of Exeter Financial LLC’s portfolio, making the stock its 11th largest holding. Exeter Financial LLC’s holdings in McDonald’s were worth $5,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the 4th quarter valued at about $25,000. HFM Investment Advisors LLC acquired a new position in McDonald’s during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s during the 1st quarter valued at about $26,000. Abound Financial LLC acquired a new position in McDonald’s during the 1st quarter valued at about $30,000. Finally, Copia Wealth Management acquired a new position in McDonald’s during the 4th quarter valued at about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the business’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 value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction that occurred 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 owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 over the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $304.34 on Thursday. The company’s 50 day simple moving average is $306.27 and its 200 day simple moving average is $306.25. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market capitalization of $217.18 billion, a P/E ratio of 26.08, a PEG ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its 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. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm earned $2.97 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued 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 was Tuesday, September 2nd. McDonald’s’s payout ratio is presently 60.67%.

Analyst Ratings Changes

A number of research firms have issued reports on MCD. Barclays boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Morgan Stanley upped their price target on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Finally, Truist Financial upped their price target on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $325.86.

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.