Perigon Wealth Management LLC Decreases Stock Holdings in McDonald’s Corporation $MCD

Perigon Wealth Management LLC reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,257 shares of the fast-food giant’s stock after selling 3,601 shares during the quarter. Perigon Wealth Management LLC’s holdings in McDonald’s were worth $16,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC raised its holdings in shares of McDonald’s by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after purchasing an additional 32 shares during the period. Granite Bay Wealth Management LLC grew its position in McDonald’s by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after buying an additional 33 shares in the last quarter. CVA Family Office LLC boosted its position in shares of McDonald’s by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock valued at $560,000 after purchasing an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC boosted its position in shares of McDonald’s by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock valued at $417,000 after purchasing an additional 33 shares in the last quarter. Finally, Security Financial Services INC. boosted its position in shares of McDonald’s by 0.7% during 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 purchasing an additional 33 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Redburn Atlantic reaffirmed a “sell” rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Stifel Nicolaus increased their price target on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. Truist Financial raised their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Citigroup raised their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $325.86.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’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 value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, 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 three months, insiders have sold 7,402 shares of company stock worth $2,273,407. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 0.4%

Shares of MCD stock opened at $304.34 on Thursday. The company’s fifty day simple moving average is $306.27 and its 200-day simple moving average is $306.25. The firm has a market cap of $217.18 billion, a PE ratio of 26.08, a P/E/G ratio of 3.09 and a beta of 0.50. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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 company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

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.