Onyx Bridge Wealth Group LLC Lowers Stake in McDonald’s Corporation $MCD

Onyx Bridge Wealth Group LLC reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,129 shares of the fast-food giant’s stock after selling 57 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in McDonald’s were worth $330,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First American Trust FSB raised its holdings in McDonald’s by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after buying an additional 13,234 shares during the last quarter. Banque Transatlantique SA raised its holdings in McDonald’s by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after buying an additional 91,313 shares during the last quarter. Hamilton Capital LLC raised its holdings in McDonald’s by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after buying an additional 819 shares during the last quarter. Welch Group LLC raised its holdings in McDonald’s by 1.1% in the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after buying an additional 2,180 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its holdings in McDonald’s by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after buying an additional 109 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.8%

Shares of MCD stock opened at $310.01 on Thursday. The company has a 50 day moving average price of $306.58 and a 200-day moving average price of $305.51. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The firm has a market capitalization of $221.22 billion, a PE ratio of 26.56, a P/E/G ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 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 analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.97 earnings per share. Analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The firm 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 represents a $7.44 annualized dividend and a yield of 2.4%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MCD shares. Truist Financial decreased their target price on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. TD Cowen lifted their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research note on Wednesday. Finally, Evercore ISI lifted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $324.50.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,463 shares of company stock worth $1,692,186. 0.25% of the stock is owned by company insiders.

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.