Creekside Partners Sells 79 Shares of McDonald’s Corporation $MCD

Creekside Partners trimmed its position in McDonald’s Corporation (NYSE:MCD) by 3.1% in the second quarter, HoldingsChannel reports. The firm owned 2,503 shares of the fast-food giant’s stock after selling 79 shares during the quarter. Creekside Partners’ holdings in McDonald’s were worth $731,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCD. HFM Investment Advisors LLC bought a new stake in McDonald’s in the 1st quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in McDonald’s in the first quarter valued at about $26,000. GFG Capital LLC purchased a new position in McDonald’s in the second quarter valued at about $29,000. Abound Financial LLC purchased a new position in McDonald’s in the first quarter valued at about $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s in the first quarter valued at about $31,000. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCD has been the topic of a number of research analyst reports. Citigroup boosted their target price on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. KeyCorp reiterated an “overweight” rating and issued a $335.00 target price (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Piper Sandler boosted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Evercore ISI upped their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $324.73.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,402 shares of company stock valued at $1,973,407. 0.25% of the stock is owned by company insiders.

McDonald’s Price Performance

NYSE MCD opened at $305.04 on Thursday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock has a market capitalization of $217.68 billion, a PE ratio of 26.14, a P/E/G ratio of 3.21 and a beta of 0.50. The company’s 50 day simple moving average is $306.29 and its two-hundred day simple moving average is $305.63.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company posted $2.97 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

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

About McDonald’s

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.