Patron Partners LLC Sells 83 Shares of McDonald’s Corporation $MCD

Patron Partners LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,599 shares of the fast-food giant’s stock after selling 83 shares during the period. McDonald’s comprises approximately 0.8% of Patron Partners LLC’s holdings, making the stock its 28th largest holding. Patron Partners LLC’s holdings in McDonald’s were worth $1,636,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in McDonald’s in the 2nd quarter valued at $32,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in McDonald’s by 45.3% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 9,857 shares of the fast-food giant’s stock valued at $2,880,000 after buying an additional 3,073 shares during the last quarter. Maridea Wealth Management LLC boosted its position in McDonald’s by 36.2% in the 2nd quarter. Maridea Wealth Management LLC now owns 3,312 shares of the fast-food giant’s stock valued at $968,000 after buying an additional 880 shares during the last quarter. Plancorp LLC boosted its position in McDonald’s by 5.1% in the 2nd quarter. Plancorp LLC now owns 11,245 shares of the fast-food giant’s stock valued at $3,286,000 after buying an additional 545 shares during the last quarter. Finally, Retirement Guys Formula LLC boosted its position in McDonald’s by 7.2% in the 2nd quarter. Retirement Guys Formula LLC now owns 4,360 shares of the fast-food giant’s stock valued at $1,274,000 after buying an additional 291 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCD. Piper Sandler raised their price target on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and reduced their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. BMO Capital Markets raised their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Finally, Guggenheim restated a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Price Performance

MCD opened at $302.29 on Friday. The business’s 50-day moving average price is $306.31 and its two-hundred day moving average price is $306.15. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market capitalization of $215.72 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 3.10 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly 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 firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the business posted $2.97 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated 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 of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’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 in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock worth $2,273,407 in the last three months. Insiders own 0.25% of the company’s stock.

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.