Beverly Hills Private Wealth LLC Sells 67 Shares of McDonald’s Corporation $MCD

Beverly Hills Private Wealth LLC cut its position in McDonald’s Corporation (NYSE:MCD) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,984 shares of the fast-food giant’s stock after selling 67 shares during the period. Beverly Hills Private Wealth LLC’s holdings in McDonald’s were worth $3,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. LMG Wealth Partners LLC boosted its holdings in McDonald’s by 2.4% in the 2nd quarter. LMG Wealth Partners LLC now owns 19,057 shares of the fast-food giant’s stock worth $5,568,000 after buying an additional 455 shares during the period. Balboa Wealth Partners raised its holdings in McDonald’s by 9.8% during the second quarter. Balboa Wealth Partners now owns 2,853 shares of the fast-food giant’s stock valued at $834,000 after acquiring an additional 255 shares during the period. Swan Global Investments LLC purchased a new position in shares of McDonald’s in the second quarter valued at about $257,000. Calamos Wealth Management LLC boosted its stake in shares of McDonald’s by 6.5% in the second quarter. Calamos Wealth Management LLC now owns 6,547 shares of the fast-food giant’s stock worth $1,913,000 after acquiring an additional 401 shares during the period. Finally, Chicago Partners Investment Group LLC grew its position in shares of McDonald’s by 1.9% during the second quarter. Chicago Partners Investment Group LLC now owns 20,530 shares of the fast-food giant’s stock worth $6,120,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.9%

NYSE:MCD opened at $308.02 on Monday. The firm has a 50 day moving average of $306.29 and a 200 day moving average of $305.41. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock has a market capitalization of $219.80 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the business earned $2.97 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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 yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Activity at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MCD. Barclays increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Piper Sandler boosted their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Truist Financial decreased their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Finally, Citigroup raised their target price 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 investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Hold” and an average price target of $324.68.

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.