McDonald’s Co. (NYSE:MCD) Stock Position Trimmed by Profund Advisors LLC

Profund Advisors LLC cut its position in McDonald’s Co. (NYSE:MCD) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,921 shares of the fast-food giant’s stock after selling 1,490 shares during the quarter. Profund Advisors LLC’s holdings in McDonald’s were worth $4,312,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in McDonald’s by 10.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 68,939 shares of the fast-food giant’s stock valued at $17,568,000 after purchasing an additional 6,506 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in McDonald’s by 0.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 636,266 shares of the fast-food giant’s stock valued at $162,146,000 after purchasing an additional 5,195 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in McDonald’s by 3,846.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 273,640 shares of the fast-food giant’s stock valued at $69,734,000 after buying an additional 266,707 shares during the period. Asset Management Group Inc. increased its stake in McDonald’s by 6.1% during the 2nd quarter. Asset Management Group Inc. now owns 1,053 shares of the fast-food giant’s stock valued at $268,000 after buying an additional 61 shares during the period. Finally, TPG Advisors LLC acquired a new position in McDonald’s during the 2nd quarter valued at about $313,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

MCD stock opened at $296.83 on Friday. The stock has a market cap of $213.92 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.88 and a beta of 0.72. The firm has a 50 day simple moving average of $277.30 and a 200 day simple moving average of $270.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39.

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

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Upgrades and Downgrades

MCD has been the topic of several research analyst reports. KeyCorp lowered their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. BMO Capital Markets lowered their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Truist Financial lowered their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Finally, Evercore ISI raised their target price on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on 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 $3,557,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,193 shares of company stock worth $1,403,593. 0.23% of the stock is owned by company insiders.

McDonald’s Profile

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.