King Wealth Management Group Reduces Position in McDonald’s Corporation $MCD

King Wealth Management Group lessened its stake in McDonald’s Corporation (NYSE:MCD) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,755 shares of the fast-food giant’s stock after selling 1,438 shares during the quarter. McDonald’s comprises about 1.1% of King Wealth Management Group’s holdings, making the stock its 22nd largest holding. King Wealth Management Group’s holdings in McDonald’s were worth $8,109,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. First American Trust FSB grew its holdings in shares of McDonald’s by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after purchasing an additional 13,234 shares during the period. Banque Transatlantique SA raised its holdings in McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after buying an additional 91,313 shares during the period. Hamilton Capital LLC lifted its position in McDonald’s by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after buying an additional 819 shares during the last quarter. Welch Group LLC boosted its stake in McDonald’s by 1.1% during the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after buying an additional 2,180 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in McDonald’s during the first quarter worth about $8,444,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCD. Piper Sandler reiterated a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a report on Wednesday, October 22nd. Evercore ISI upped their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Stifel Nicolaus lifted their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Guggenheim cut their price objective on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, KeyCorp reissued an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a research note on Monday, October 20th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Hold” and an average target price of $323.91.

Insider Activity

In other news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares of the company’s stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at $1,383,734.52. The trade was a 74.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,134 shares of company stock worth $4,570,716 over the last ninety days. 0.25% of the stock is currently owned by insiders.

McDonald’s Trading Up 0.1%

Shares of NYSE:MCD opened at $307.11 on Friday. The company has a market capitalization of $218.71 billion, a PE ratio of 26.32, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The firm has a 50 day simple moving average of $303.52 and a 200-day simple moving average of $304.78.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 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 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 EPS. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is currently 63.48%.

About McDonald’s

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.