McDonald’s Corporation $MCD Stock Position Lowered by Austin Wealth Management LLC

Austin Wealth Management LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 15.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 917 shares of the fast-food giant’s stock after selling 170 shares during the quarter. Austin Wealth Management LLC’s holdings in McDonald’s were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Nuveen LLC purchased a new position in shares of McDonald’s during the first quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD grew its stake in McDonald’s by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of McDonald’s by 19.6% in the 1st 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 period. T. Rowe Price Investment Management Inc. lifted its position in shares of 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 worth $203,211,000 after purchasing an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of 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 worth $177,390,000 after purchasing an additional 407,982 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MCD shares. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Friday, August 22nd. Morgan Stanley set a $335.00 price target on shares of McDonald’s in a report on Friday, October 17th. TD Cowen increased their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. KeyCorp reissued an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a research report on Monday, October 20th. Finally, Citigroup dropped their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, McDonald’s has a consensus rating of “Hold” and an average price target of $323.91.

Insider Activity

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,134 shares of company stock valued at $4,570,716 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

McDonald’s Price Performance

NYSE MCD opened at $306.48 on Wednesday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock’s 50-day moving average is $303.91 and its two-hundred day moving average is $304.75. The firm has a market cap of $218.26 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

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

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.86 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is 63.48%.

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.