Zullo Investment Group Inc. Decreases Stock Holdings in McDonald’s Corporation $MCD

Zullo Investment Group Inc. trimmed its holdings in McDonald’s Corporation (NYSE:MCD) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,358 shares of the fast-food giant’s stock after selling 91 shares during the quarter. Zullo Investment Group Inc.’s holdings in McDonald’s were worth $1,858,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. WealthPlan Investment Management LLC lifted its stake 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 worth $1,134,000 after purchasing an additional 32 shares in the last quarter. CVA Family Office LLC lifted its stake 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 worth $560,000 after purchasing an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC lifted its stake 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 worth $417,000 after purchasing an additional 33 shares in the last quarter. Security Financial Services INC. raised its position in shares of McDonald’s by 0.7% during 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 buying an additional 33 shares during the period. Finally, Stockman Wealth Management Inc. raised its position in shares of McDonald’s by 1.8% during the 1st quarter. Stockman Wealth Management Inc. now owns 1,964 shares of the fast-food giant’s stock valued at $613,000 after buying an additional 34 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock worth $1,973,407 over the last ninety days. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $297.07 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm has a 50 day moving average price of $306.31 and a 200 day moving average price of $305.79. The company has a market capitalization of $211.99 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend 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 is currently 60.67%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MCD shares. KeyCorp reaffirmed an “overweight” rating and set a $335.00 price target (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Evercore ISI lifted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Piper Sandler lifted their price target on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Melius started coverage on shares of McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price target on the stock. Finally, Truist Financial lifted their price target on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $325.18.

About McDonald’s

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.