Vest Financial LLC Sells 18,349 Shares of McDonald’s Corporation $MCD

Vest Financial LLC lessened its position in McDonald’s Corporation (NYSE:MCD) by 8.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 189,155 shares of the fast-food giant’s stock after selling 18,349 shares during the period. Vest Financial LLC’s holdings in McDonald’s were worth $55,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. MGO One Seven LLC grew its position in McDonald’s by 5.0% in the 2nd quarter. MGO One Seven LLC now owns 18,610 shares of the fast-food giant’s stock worth $5,437,000 after purchasing an additional 879 shares during the last quarter. Welch Group LLC increased its holdings in shares of McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after purchasing an additional 2,180 shares during the period. Stephens Consulting LLC increased its holdings in shares of McDonald’s by 9.2% during the 2nd quarter. Stephens Consulting LLC now owns 499 shares of the fast-food giant’s stock worth $146,000 after purchasing an additional 42 shares during the period. Bill Few Associates Inc. increased its holdings in shares of McDonald’s by 5.9% during the 2nd quarter. Bill Few Associates Inc. now owns 3,705 shares of the fast-food giant’s stock worth $1,082,000 after purchasing an additional 207 shares during the period. Finally, MOKAN Wealth Management Inc. increased its holdings in shares of McDonald’s by 8.7% during the 2nd quarter. MOKAN Wealth Management Inc. now owns 11,884 shares of the fast-food giant’s stock worth $3,473,000 after purchasing an additional 951 shares during the period. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. TD Cowen boosted their price target on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Truist Financial boosted 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. Finally, Citigroup boosted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $325.18.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on 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 represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This trade represents a 90.99% 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 three months. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

MCD opened at $297.07 on Monday. The company has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50. The firm has a 50 day simple moving average of $306.31 and a 200 day simple moving average of $305.69. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share 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 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%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.97 earnings per share. As a group, analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. 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 presently 60.67%.

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.