PAX Financial Group LLC Cuts Position in McDonald’s Corporation (NYSE:MCD)

PAX Financial Group LLC lessened its position in shares of McDonald’s Corporation (NYSE:MCD) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,156 shares of the fast-food giant’s stock after selling 128 shares during the quarter. PAX Financial Group LLC’s holdings in McDonald’s were worth $986,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new position in McDonald’s during the 4th quarter valued at approximately $25,000. Pinney & Scofield Inc. purchased a new position in McDonald’s during the 4th quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new position in McDonald’s during the 4th quarter valued at approximately $30,000. Abound Financial LLC purchased a new position in McDonald’s during the 1st quarter valued at approximately $30,000. Finally, Copia Wealth Management purchased a new position in McDonald’s during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider directly owned 10,222 shares of the company’s stock, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock worth $1,165,843 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCD. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Loop Capital cut McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Barclays lifted their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Piper Sandler lifted their target price on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, Truist Financial lifted their target price on McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and a consensus target price of $319.48.

McDonald’s Trading Up 0.6%

MCD opened at $301.86 on Tuesday. The firm has a market cap of $215.84 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 3.13 and a beta of 0.53. McDonald’s Corporation has a 12 month low of $246.12 and a 12 month high of $326.32. The stock has a fifty day moving average price of $303.84 and a 200-day moving average price of $302.65.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.70 EPS. On average, equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is currently 62.49%.

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.