Cardinal Point Capital Management ULC Sells 200 Shares of McDonald’s Corporation $MCD

Cardinal Point Capital Management ULC decreased its position in McDonald’s Corporation (NYSE:MCD) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,859 shares of the fast-food giant’s stock after selling 200 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in McDonald’s were worth $3,757,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. WealthPlan Investment Management LLC lifted its stake in shares of McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after buying an additional 32 shares in the last quarter. Security Financial Services INC. lifted its stake in shares of McDonald’s by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after buying an additional 33 shares in the last quarter. Ascent Wealth Partners LLC lifted its stake in shares of McDonald’s by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock worth $3,620,000 after buying an additional 34 shares in the last quarter. Platform Technology Partners lifted its stake in shares of McDonald’s by 0.4% in the first quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after buying an additional 35 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its stake in shares of McDonald’s by 3.4% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after buying an additional 35 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $307.01 on Friday. The firm has a fifty day moving average price of $306.55 and a 200-day moving average price of $305.56. The stock has a market cap of $219.08 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.28 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 earnings per share. On average, research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,463 shares of company stock worth $1,692,186. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. Truist Financial dropped their target price on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Piper Sandler restated a “neutral” rating and set a $325.00 price objective on shares of McDonald’s in a research report on Wednesday. Barclays increased their price objective on shares of McDonald’s from $360.00 to $362.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI increased their price objective 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. Finally, BMO Capital Markets increased their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $324.50.

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.