McDonald’s Corporation $MCD Shares Sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC trimmed its stake in McDonald’s Corporation (NYSE:MCD) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,345 shares of the fast-food giant’s stock after selling 345 shares during the quarter. McDonald’s makes up 4.4% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 7th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in McDonald’s were worth $6,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MCD. Nuveen LLC acquired a new position in shares of McDonald’s in the first quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD lifted its position in McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after buying an additional 1,344,954 shares during the period. Goldman Sachs Group Inc. lifted its position in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after buying an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after buying an additional 407,982 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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 approximately $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,402 shares of company stock worth $2,273,407 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

McDonald’s Price Performance

McDonald’s stock opened at $300.72 on Friday. The stock’s 50-day moving average is $306.93 and its 200-day moving average is $306.16. The company has a market cap of $214.59 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 3.07 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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the business posted $2.97 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Redburn Atlantic reiterated a “sell” rating and set a $260.00 target price (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. BMO Capital Markets increased their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Piper Sandler increased their target price on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Citigroup increased their target price on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Twelve 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.