McDonald’s Co. (NYSE:MCD) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,862 shares of the fast-food giant’s stock after selling 311 shares during the quarter. Benjamin Edwards Inc.’s holdings in McDonald’s were worth $2,513,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Concentric Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 35 shares during the last quarter. FinTrust Capital Advisors LLC boosted its holdings in shares of McDonald’s by 2.9% during the fourth 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 during the last quarter. 9258 Wealth Management LLC boosted its holdings in shares of McDonald’s by 1.3% during the first 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 during the last quarter. MTM Investment Management LLC boosted its holdings in shares of McDonald’s by 3.3% during the first quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock worth $331,000 after purchasing an additional 38 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its holdings in shares of McDonald’s by 0.9% during the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock worth $1,234,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $293.85 on Friday. The business has a 50-day moving average of $276.44 and a 200-day moving average of $270.84. The company has a market capitalization of $211.77 billion, a PE ratio of 24.94, a P/E/G ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for 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 firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.17 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $1.67 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.27%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. 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. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial decreased their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Stifel Nicolaus cut their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. KeyCorp cut their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Barclays cut their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Finally, Bank of America cut their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $306.11.

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.