Greenwood Capital Associates LLC Decreases Stock Position in McDonald’s Corporation $MCD

Greenwood Capital Associates LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,901 shares of the fast-food giant’s stock after selling 187 shares during the period. Greenwood Capital Associates LLC’s holdings in McDonald’s were worth $4,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC lifted its holdings in McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after purchasing an additional 32 shares in the last quarter. CVA Family Office LLC lifted its holdings in McDonald’s by 1.9% in 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 lifted its holdings in McDonald’s by 2.5% in 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. Security Financial Services INC. lifted its holdings in McDonald’s by 0.7% in 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. Finally, Tealwood Asset Management Inc. lifted its holdings in McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock valued at $2,535,000 after purchasing an additional 34 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

MCD opened at $300.09 on Friday. The firm has a 50 day moving average price of $306.88 and a 200 day moving average price of $306.19. The company has a market cap of $214.15 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.06 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

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

McDonald’s Dividend Announcement

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

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the 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 completion of the sale, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock worth $2,273,407 in the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCD. Melius began coverage on shares of McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective on the stock. Truist Financial increased their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Finally, Citigroup increased their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $325.86.

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.