McDonald’s Corporation $MCD Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its stake in McDonald’s Corporation (NYSE:MCD) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,269 shares of the fast-food giant’s stock after selling 301 shares during the period. Congress Asset Management Co.’s holdings in McDonald’s were worth $14,979,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth about $25,000. HFM Investment Advisors LLC acquired a new position in McDonald’s during the first quarter worth about $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s during the first quarter worth about $26,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Trading Up 0.9%

MCD opened at $305.10 on Friday. The stock has a market cap of $217.72 billion, a PE ratio of 26.14, a P/E/G ratio of 3.08 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock’s 50 day simple moving average is $306.48 and its 200-day simple moving average is $306.14.

McDonald’s (NYSE:MCD) last posted 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 company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.97 earnings per share. Equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Analyst Ratings Changes

MCD has been the subject of a number of research reports. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. TD Cowen lifted their price target on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Truist Financial raised their price objective on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Morgan Stanley raised their price objective on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Finally, Piper Sandler raised their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $325.86.

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.