Philip James Wealth Mangement LLC Decreases Stake in McDonald’s Corporation $MCD

Philip James Wealth Mangement LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,739 shares of the fast-food giant’s stock after selling 83 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in McDonald’s were worth $508,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new stake in McDonald’s in the first quarter worth approximately $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in McDonald’s in the first quarter worth approximately $30,000. Redmont Wealth Advisors LLC purchased a new stake in McDonald’s in the first quarter worth approximately $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in McDonald’s in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 1.0%

MCD opened at $300.81 on Thursday. The stock has a fifty day simple moving average of $306.78 and a two-hundred day simple moving average of $306.21. The company has a market cap of $214.66 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.09 and a beta of 0.51. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last posted 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. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the company earned $2.97 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insiders Place Their Bets

In related news, EVP Jonathan Banner sold 1,000 shares of the 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 sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Guggenheim reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Barclays increased their price objective on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, Piper Sandler increased their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $325.86.

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.