DeDora Capital Inc. Sells 43 Shares of McDonald’s Corporation $MCD

DeDora Capital Inc. reduced its position in McDonald’s Corporation (NYSE:MCD) by 1.4% during the second quarter, HoldingsChannel reports. The fund owned 2,980 shares of the fast-food giant’s stock after selling 43 shares during the quarter. DeDora Capital Inc.’s holdings in McDonald’s were worth $871,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in MCD. Nuveen LLC purchased a new position in shares of McDonald’s during the first quarter worth about $1,324,961,000. Price T Rowe Associates Inc. MD lifted its position in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after purchasing an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after purchasing an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after purchasing an additional 407,982 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD stock opened at $308.02 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The business’s 50-day moving average is $306.29 and its two-hundred day moving average is $305.50. The company has a market cap of $219.80 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the company earned $2.97 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Buying and Selling

In other news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Piper Sandler upped their target price on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Melius initiated coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 target price on the stock. Finally, Bank of America cut their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $324.68.

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.