McDonald’s Co. (NYSE:MCD) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,221 shares of the fast-food giant’s stock after selling 102 shares during the period. McDonald’s makes up 1.0% of Chesapeake Wealth Management’s investment portfolio, making the stock its 26th largest holding. Chesapeake Wealth Management’s holdings in McDonald’s were worth $2,860,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Concentric Wealth Management LLC raised its position in McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after acquiring an additional 35 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in shares of McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares in the last quarter. 9258 Wealth Management LLC increased its stake in shares of McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of McDonald’s by 1.3% during the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after purchasing an additional 38 shares during the last quarter. Finally, MTM Investment Management LLC lifted its stake in McDonald’s by 3.3% in the 1st quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock valued at $331,000 after buying an additional 38 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCD. Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Loop Capital restated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Tuesday, September 10th. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the stock from $285.00 to $280.00 in a research note on Wednesday, July 31st. Truist Financial cut their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Guggenheim raised their target price on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $306.11.

McDonald’s Stock Performance

NYSE:MCD opened at $296.77 on Friday. The stock has a market cap of $213.88 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The business’s 50-day simple moving average is $277.30 and its 200 day simple moving average is $270.88.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $3.17 earnings per share. On average, equities research analysts predict that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,193 shares of company stock valued at $1,403,593. Insiders own 0.23% of the company’s stock.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.