Pekin Hardy Strauss Inc. Cuts Stock Holdings in McDonald’s Corporation $MCD

Pekin Hardy Strauss Inc. lowered its position in McDonald’s Corporation (NYSE:MCD) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,361 shares of the fast-food giant’s stock after selling 190 shares during the period. Pekin Hardy Strauss Inc.’s holdings in McDonald’s were worth $2,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Nova Wealth Management Inc. bought a new position in shares of McDonald’s during the 1st quarter worth approximately $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s in the 1st quarter valued at $26,000. GFG Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $29,000. Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald’s during the 1st quarter worth $31,000. Finally, 1248 Management LLC bought a new stake in shares of McDonald’s during the 1st quarter worth $33,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

McDonald’s stock opened at $298.36 on Friday. The firm has a market capitalization of $212.91 billion, a P/E ratio of 25.57, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The business has a fifty day moving average price of $304.67 and a 200-day moving average price of $305.20.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is 63.48%.

Wall Street Analyst Weigh In

Several analysts have commented on MCD shares. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a research report on Friday, October 17th. Evercore ISI lifted their price target 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. Stifel Nicolaus increased their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. Truist Financial lowered their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $323.91.

Insiders Place Their Bets

In related 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 sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction 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 of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by insiders.

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.