Carlton Hofferkamp & Jenks Wealth Management LLC Sells 65 Shares of McDonald’s Corporation $MCD

Carlton Hofferkamp & Jenks Wealth Management LLC cut its stake in shares of McDonald’s Corporation (NYSE:MCD) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,237 shares of the fast-food giant’s stock after selling 65 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in McDonald’s were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. WealthPlan Investment Management LLC grew its holdings in McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after buying an additional 32 shares in the last quarter. Security Financial Services INC. grew its holdings in McDonald’s by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after buying an additional 33 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in McDonald’s by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock valued at $3,620,000 after buying an additional 34 shares in the last quarter. Platform Technology Partners grew its holdings in McDonald’s by 0.4% in the 1st quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock valued at $2,692,000 after buying an additional 35 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. grew its holdings in McDonald’s by 3.4% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock valued at $334,000 after buying an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 0.3%

MCD opened at $306.05 on Friday. The stock’s 50-day moving average price is $306.49 and its 200 day moving average price is $305.61. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm has a market cap of $218.39 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 3.24 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating 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%.McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.97 EPS. On average, research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $1.86 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is 60.67%.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,463 shares of company stock valued at $1,692,186. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank Of Canada assumed coverage on McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price for the company. JPMorgan Chase & Co. upped their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Stifel Nicolaus upped their price target on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. BMO Capital Markets upped their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $324.50.

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.