McLean Asset Management Corp Sells 74 Shares of McDonald’s Corporation $MCD

McLean Asset Management Corp reduced its position in McDonald’s Corporation (NYSE:MCD) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,517 shares of the fast-food giant’s stock after selling 74 shares during the quarter. McLean Asset Management Corp’s holdings in McDonald’s were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald’s in the fourth quarter valued at $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s in the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald’s in the 4th quarter valued at approximately $29,000. Finally, Abound Financial LLC bought a new position in shares of McDonald’s in the first quarter valued at $30,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCD has been the topic of a number of research reports. TD Securities reaffirmed a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Morgan Stanley lifted their target price on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Loop Capital cut McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Evercore ISI lifted their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Piper Sandler boosted their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and a consensus target price of $325.14.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $305.49 on Friday. The firm has a market capitalization of $218.00 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.14 and a beta of 0.50. The stock has a 50 day moving average price of $305.33 and a 200-day moving average price of $306.57. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the business posted $2.97 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Insiders Place Their Bets

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 transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares in the company, valued at $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 is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,341 shares of company stock worth $2,544,327 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.