Asset Advisors Investment Management LLC Sells 315 Shares of McDonald’s Corporation $MCD

Asset Advisors Investment Management LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.4% in the 2nd quarter, Holdings Channel reports. The firm owned 6,900 shares of the fast-food giant’s stock after selling 315 shares during the period. Asset Advisors Investment Management LLC’s holdings in McDonald’s were worth $2,016,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in McDonald’s by 21.6% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC boosted its stake in 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 acquiring an additional 52 shares in the last quarter. Quotient Wealth Partners LLC boosted its stake in McDonald’s by 10.9% in the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after acquiring an additional 258 shares in the last quarter. Clare Market Investments LLC boosted its stake in McDonald’s by 14.8% in the first quarter. Clare Market Investments LLC now owns 1,987 shares of the fast-food giant’s stock valued at $621,000 after acquiring an additional 256 shares in the last quarter. Finally, Matrix Trust Co lifted its stake in shares of McDonald’s by 1.1% during the first quarter. Matrix Trust Co now owns 7,571 shares of the fast-food giant’s stock worth $2,365,000 after buying an additional 86 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.1%

MCD stock opened at $300.09 on Friday. The stock has a market capitalization of $214.15 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.06 and a beta of 0.50. The firm has a 50-day simple moving average of $306.88 and a 200-day simple moving average of $306.19. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.97 earnings per share. On average, analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. 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 90 days. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCD. TD Securities reiterated a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $346.00 to $315.00 in a research note on Friday, June 6th. Redburn Atlantic reiterated a “sell” rating and set a $260.00 price objective (down from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Finally, Bank of America lowered their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Eleven equities 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $325.86.

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.