Absher Wealth Management LLC Sells 12,189 Shares of McDonald’s Corporation (NYSE:MCD)

Absher Wealth Management LLC reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 16.0% during the first quarter, Holdings Channel reports. The firm owned 64,182 shares of the fast-food giant’s stock after selling 12,189 shares during the period. McDonald’s makes up 2.6% of Absher Wealth Management LLC’s holdings, making the stock its 24th largest holding. Absher Wealth Management LLC’s holdings in McDonald’s were worth $20,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock valued at $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of McDonald’s by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after purchasing an additional 157,458 shares in the last quarter. Capital Research Global Investors lifted its position in shares of McDonald’s by 5.2% during the fourth quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock valued at $3,088,037,000 after purchasing an additional 531,070 shares in the last quarter. Norges Bank bought a new position in shares of McDonald’s during the fourth quarter valued at about $2,725,190,000. Finally, Northern Trust Corp raised its position in McDonald’s by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after acquiring an additional 895,896 shares during the period. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on MCD shares. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Truist Financial set a $350.00 price objective on shares of McDonald’s in a research report on Friday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $345.00 price objective (up previously from $340.00) on shares of McDonald’s in a research report on Monday, May 5th. Barclays lifted their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $321.79.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

McDonald’s Trading Down 1.0%

Shares of NYSE:MCD opened at $286.75 on Friday. The company has a 50 day moving average of $310.55 and a 200 day moving average of $302.84. The stock has a market cap of $205.04 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.00 and a beta of 0.56. McDonald’s Corporation has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald’s’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.70 earnings per share. On average, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.47%. McDonald’s’s dividend payout ratio is currently 62.49%.

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.