QRG Capital Management Inc. Sells 4,051 Shares of McDonald’s Corporation $MCD

QRG Capital Management Inc. decreased its holdings in McDonald’s Corporation (NYSE:MCD) by 4.0% in the second quarter, HoldingsChannel.com reports. The fund owned 96,006 shares of the fast-food giant’s stock after selling 4,051 shares during the period. QRG Capital Management Inc.’s holdings in McDonald’s were worth $25,951,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Abound Financial LLC bought a new position in McDonald’s in the 4th quarter worth $30,000. Purpose Unlimited Inc. purchased a new stake in shares of McDonald’s in the 4th quarter worth about $31,000. GKV Capital Management Co. Inc. bought a new stake in shares of McDonald’s during the 1st quarter valued at about $33,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at about $43,000. Finally, Financial Life Planners purchased a new position in shares of McDonald’s during the first quarter valued at about $51,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD traded down $12.24 during mid-day trading on Wednesday, hitting $238.11. 16,552,168 shares of the company’s stock were exchanged, compared to its average volume of 4,095,871. The company has a market cap of $168.50 billion, a PE ratio of 19.34, a P/E/G ratio of 2.68 and a beta of 0.41. McDonald’s Corporation has a one year low of $234.03 and a one year high of $341.75. The business has a fifty day moving average price of $264.12 and a 200 day moving average price of $282.34.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.06. McDonald’s had a net margin of 31.72% and a negative return on equity of 572.06%. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that McDonald’s Corporation will post 12.88 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $1.93 dividend. This represents a $7.72 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.86. McDonald’s’s dividend payout ratio (DPR) is currently 60.44%.

McDonald’s News Summary

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s unveiled its “NEXT” strategy, including restaurant remodels, improved employee training, better food and service, and technology upgrades intended to improve productivity, operating margins and market share through 2030. McDonald’s will spend big on restaurant upgrades, training to drive growth
• Positive Sentiment: The company is betting on hand-breaded and grilled chicken, wraps, egg bites and bowls to capture demand for more protein and varied portions, while AI-enabled ordering and drive-thru systems such as ArchIQ could improve restaurant efficiency. More tech and hand-breaded chicken coming to McDonald’s
• Positive Sentiment: McDonald’s is testing a restaurant media network that could eventually become a $1 billion advertising business, creating a potentially high-margin revenue stream from digital menu boards and drive-thru displays. Why McDonald’s is following Walmart and Amazon into the advertising business

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCD. Weiss Ratings restated a “hold (c)” rating on shares of McDonald’s in a report on Friday. Royal Bank Of Canada reduced their target price on McDonald’s from $295.00 to $290.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 15th. Wells Fargo & Company decreased their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. TD Cowen lowered their target price on McDonald’s from $300.00 to $282.00 and set a “hold” rating for the company in a research note on Friday, September 11th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.04.

About McDonald’s

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.