Probity Advisors Inc. Sells 110 Shares of McDonald’s Corporation $MCD

Probity Advisors Inc. reduced its stake in McDonald’s Corporation (NYSE:MCD) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,334 shares of the fast-food giant’s stock after selling 110 shares during the period. Probity Advisors Inc.’s holdings in McDonald’s were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. WealthPlan Investment Management LLC increased its holdings in McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after acquiring an additional 32 shares during the last quarter. Security Financial Services INC. increased its holdings in shares of McDonald’s by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after buying an additional 33 shares during the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of McDonald’s by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock worth $3,620,000 after buying an additional 34 shares during the last quarter. Platform Technology Partners increased its holdings in shares of McDonald’s by 0.4% in the 1st quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after buying an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. increased its holdings in shares of McDonald’s by 3.4% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after buying an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp restated an “overweight” rating and issued a $335.00 target price on shares of McDonald’s in a report on Monday. Barclays boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Evercore ISI boosted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Wells Fargo & Company reduced their target price on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and an average price target of $324.68.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $307.94 on Tuesday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The business has a 50 day simple moving average of $306.36 and a two-hundred day simple moving average of $305.47. The firm has a market capitalization of $219.75 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock valued at $1,973,407 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

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.