Thrive Wealth Management LLC Sells 80 Shares of McDonald’s Corporation $MCD

Thrive Wealth Management LLC reduced its stake in McDonald’s Corporation (NYSE:MCD) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,268 shares of the fast-food giant’s stock after selling 80 shares during the quarter. Thrive Wealth Management LLC’s holdings in McDonald’s were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MCD. Brighton Jones LLC boosted its position in shares of McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of McDonald’s by 15.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock worth $60,722,000 after purchasing an additional 27,774 shares in the last quarter. GHE LLC boosted its position in shares of McDonald’s by 0.9% in the 4th quarter. GHE LLC now owns 14,677 shares of the fast-food giant’s stock worth $4,255,000 after purchasing an additional 136 shares in the last quarter. Finally, Visionary Wealth Advisors boosted its position in shares of McDonald’s by 4.9% in the 4th quarter. Visionary Wealth Advisors now owns 5,193 shares of the fast-food giant’s stock worth $1,505,000 after purchasing an additional 244 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,341 shares of company stock worth $2,544,327. 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. Barclays boosted their price target on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. TD Cowen boosted their price objective 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. Piper Sandler boosted their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Finally, KeyCorp restated an “overweight” rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Eleven investment 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, McDonald’s presently has an average rating of “Hold” and an average target price of $325.14.

McDonald’s Stock Performance

Shares of MCD stock opened at $303.41 on Wednesday. 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 $216.51 billion, a PE ratio of 26.00, a PEG ratio of 3.08 and a beta of 0.50. The stock has a fifty day simple moving average of $305.73 and a two-hundred day simple moving average of $306.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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 analyst estimates of $6.68 billion. During the same quarter in the prior year, the business posted $2.97 EPS. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

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.