Lifeworks Advisors LLC Reduces Stock Position in McDonald’s Corporation $MCD

Lifeworks Advisors LLC cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 10.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,821 shares of the fast-food giant’s stock after selling 215 shares during the quarter. Lifeworks Advisors LLC’s holdings in McDonald’s were worth $532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Syverson Strege & Co purchased a new stake in McDonald’s during the 2nd quarter worth approximately $373,000. Great Lakes Retirement Inc. increased its holdings in McDonald’s by 5.3% during the 2nd quarter. Great Lakes Retirement Inc. now owns 5,126 shares of the fast-food giant’s stock worth $1,498,000 after purchasing an additional 256 shares during the last quarter. AlphaStar Capital Management LLC purchased a new stake in McDonald’s during the 2nd quarter worth approximately $4,324,000. Linscomb Wealth Inc. increased its holdings in shares of McDonald’s by 0.7% in the 2nd quarter. Linscomb Wealth Inc. now owns 40,266 shares of the fast-food giant’s stock valued at $11,765,000 after acquiring an additional 292 shares during the last quarter. Finally, Creekmur Asset Management LLC increased its holdings in shares of McDonald’s by 11.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 2,115 shares of the fast-food giant’s stock valued at $618,000 after acquiring an additional 210 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,487 shares of company stock valued at $1,395,970. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCD. Mizuho upgraded McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Wells Fargo & Company lowered their price target on McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Bank of America lowered their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a report on Thursday, July 10th. Finally, Guggenheim lowered their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, October 10th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $323.43.

McDonald’s Price Performance

Shares of MCD opened at $298.44 on Friday. The company has a market cap of $212.97 billion, a P/E ratio of 25.57, a PEG ratio of 3.23 and a beta of 0.50. The stock has a fifty day moving average price of $305.70 and a 200 day moving average price of $305.46. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

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

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. McDonald’s’s payout ratio is presently 63.75%.

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.