MainStreet Investment Advisors LLC Sells 1,039 Shares of McDonald’s Corporation $MCD

MainStreet Investment Advisors LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,440 shares of the fast-food giant’s stock after selling 1,039 shares during the period. McDonald’s accounts for approximately 1.4% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 23rd largest holding. MainStreet Investment Advisors LLC’s holdings in McDonald’s were worth $9,770,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MCD. Brighton Jones LLC raised its stake in McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after acquiring an additional 1,649 shares during the period. Revolve Wealth Partners LLC raised its position in shares of McDonald’s by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 52 shares during the period. SSA Swiss Advisors AG purchased a new stake in shares of McDonald’s during the 1st quarter valued at approximately $175,000. Chancellor Financial Group WB LP boosted its holdings in McDonald’s by 24.3% in the 1st quarter. Chancellor Financial Group WB LP now owns 2,812 shares of the fast-food giant’s stock worth $878,000 after buying an additional 550 shares during the period. Finally, RD Lewis Holdings Inc. grew its stake in McDonald’s by 3.5% in the 1st quarter. RD Lewis Holdings Inc. now owns 9,753 shares of the fast-food giant’s stock valued at $3,043,000 after buying an additional 332 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCD. Truist Financial reduced their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Evercore ISI lifted their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Robert W. Baird increased their price target on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. TD Cowen boosted their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $323.91.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $304.80 on Tuesday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The firm has a market cap of $217.06 billion, a PE ratio of 26.12, a PEG ratio of 3.23 and a beta of 0.50. The company has a 50 day simple moving average of $303.21 and a two-hundred day simple moving average of $304.47.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter last year, the business posted $3.23 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

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

McDonald’s 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.