Ascent Group LLC Sells 1,085 Shares of McDonald’s Corporation $MCD

Ascent Group LLC cut its position in McDonald’s Corporation (NYSE:MCD) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,439 shares of the fast-food giant’s stock after selling 1,085 shares during the quarter. Ascent Group LLC’s holdings in McDonald’s were worth $4,803,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in McDonald’s during the 1st quarter valued at $26,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s during the 1st quarter valued at $26,000. Abound Financial LLC acquired a new stake in McDonald’s during the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new stake in McDonald’s during the 1st quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald’s during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, 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 value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock valued at $2,273,407 in the last ninety days. Insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $300.72 on Friday. The stock’s 50 day moving average is $306.93 and its 200 day moving average is $306.17. The firm has a market cap of $214.59 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.05 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCD shares. BMO Capital Markets increased their price objective on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Guggenheim reiterated a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. Barclays increased their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. TD Cowen increased their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Finally, Truist Financial increased their price objective on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s 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.