McKinley Carter Wealth Services Inc. Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

McKinley Carter Wealth Services Inc. reduced its stake in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,808 shares of the fast-food giant’s stock after selling 236 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in McDonald’s were worth $2,421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Westshore Wealth LLC bought a new stake in McDonald’s during the 2nd quarter valued at approximately $579,000. Ignite Planners LLC increased its stake in McDonald’s by 3.4% in the 2nd quarter. Ignite Planners LLC now owns 1,735 shares of the fast-food giant’s stock worth $440,000 after acquiring an additional 57 shares during the last quarter. Wealth Management Partners LLC bought a new stake in McDonald’s in the 2nd quarter worth approximately $218,000. HB Wealth Management LLC increased its stake in McDonald’s by 39.7% in the 2nd quarter. HB Wealth Management LLC now owns 45,489 shares of the fast-food giant’s stock worth $11,230,000 after acquiring an additional 12,919 shares during the last quarter. Finally, RHS Financial LLC bought a new stake in McDonald’s in the 2nd quarter worth approximately $319,000. Institutional investors own 67.27% of the company’s stock.

Insider Buying and Selling

In related news, SVP Catherine A. Hoovel sold 2,371 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total transaction of $606,075.02. Following the completion of the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $302,654.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Catherine A. Hoovel sold 2,371 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total transaction of $606,075.02. Following the transaction, the senior vice president now directly owns 1,184 shares of the company’s stock, valued at approximately $302,654.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ian Frederick Borden sold 8,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $255.80, for a total value of $2,046,400.00. Following the transaction, the insider now directly owns 7,131 shares in the company, valued at $1,824,109.80. The disclosure for this sale can be found here. Insiders sold 20,191 shares of company stock worth $5,250,365 in the last three months. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays reduced their price objective on McDonald’s from $289.00 to $285.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft downgraded McDonald’s from a “buy” rating to a “hold” rating and cut their target price for the company from $263.00 to $259.00 in a research report on Wednesday, July 27th. Morgan Stanley cut their target price on McDonald’s from $287.00 to $285.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Cowen boosted their target price on McDonald’s from $275.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, Truist Financial boosted their target price on McDonald’s from $273.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $285.39.

McDonald’s Price Performance

Shares of MCD stock traded down $1.92 during mid-day trading on Friday, hitting $246.02. The stock had a trading volume of 76,848 shares, compared to its average volume of 2,372,805. McDonald’s Co. has a 12-month low of $217.68 and a 12-month high of $271.15. The firm has a market capitalization of $181.00 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 3.05 and a beta of 0.57. The firm’s 50-day moving average is $258.22 and its two-hundred day moving average is $249.50.

McDonald’s (NYSE:MCDGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.82 billion. McDonald’s had a negative return on equity of 129.90% and a net margin of 25.77%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.37 EPS. Analysts expect that McDonald’s Co. will post 9.83 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 31st. McDonald’s’s dividend payout ratio (DPR) is currently 67.98%.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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