Elser Financial Planning Inc Sells 39 Shares of McDonald’s Corporation $MCD

Elser Financial Planning Inc trimmed its stake in McDonald’s Corporation (NYSE:MCD) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,115 shares of the fast-food giant’s stock after selling 39 shares during the period. Elser Financial Planning Inc’s holdings in McDonald’s were worth $334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MCD. Nuveen LLC purchased a new stake in McDonald’s in the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD boosted its holdings 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 period. Goldman Sachs Group Inc. increased its stake in 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 worth $1,556,485,000 after buying an additional 815,768 shares in the last quarter. 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 valued at $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of McDonald’s by 204.8% during 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. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCD has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. TD Cowen increased their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Redburn Atlantic restated a “sell” rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Morgan Stanley boosted their target price on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, Argus cut McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, McDonald’s has a consensus rating of “Hold” and a consensus price target of $325.86.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The stock was 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 in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

NYSE:MCD opened at $305.10 on Monday. The stock’s fifty day moving average is $306.48 and its 200 day moving average is $306.25. The firm has a market capitalization of $217.72 billion, a PE ratio of 26.14, a PEG ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.97 EPS. Equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

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

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.