NorthRock Partners LLC Sells 3,254 Shares of McDonald’s Corporation $MCD

NorthRock Partners LLC lessened its stake in McDonald’s Corporation (NYSE:MCD) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,481 shares of the fast-food giant’s stock after selling 3,254 shares during the quarter. NorthRock Partners LLC’s holdings in McDonald’s were worth $5,780,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. HFM Investment Advisors LLC bought a new stake in McDonald’s during the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s during the 1st quarter valued at $26,000. GFG Capital LLC bought a new stake in McDonald’s during the 2nd quarter valued at $29,000. Abound Financial LLC bought a new stake in McDonald’s during the 1st quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC bought a new stake in McDonald’s during the 1st quarter valued at $31,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Truist Financial boosted their target price on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Morgan Stanley boosted their price target on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Citigroup boosted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Finally, The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $325.18.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $297.07 on Monday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a fifty day moving average of $306.31 and a 200 day moving average of $305.69. The firm has a market capitalization of $211.99 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50.

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

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

Insider Buying and Selling at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction dated 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 approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,402 shares of company stock valued at $1,973,407. Corporate insiders own 0.25% of the company’s stock.

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.