McDonald’s Corporation $MCD Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC trimmed its stake in shares of McDonald’s Corporation (NYSE:MCD) by 2.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,104 shares of the fast-food giant’s stock after selling 82 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in McDonald’s were worth $907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in McDonald’s by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after purchasing an additional 239,753 shares in the last quarter. 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 worth $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Northern Trust Corp grew its stake in McDonald’s by 1.1% during the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after purchasing an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in McDonald’s by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after buying an additional 123,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in McDonald’s by 19.6% during 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 during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America decreased their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Truist Financial lifted their price target on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. Finally, TD Cowen lifted their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $325.86.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s 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 transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’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 transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,402 shares of company stock worth $2,273,407. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $300.72 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The company has a market capitalization of $214.59 billion, a P/E ratio of 25.77, a PEG ratio of 3.05 and a beta of 0.50. The stock has a 50-day simple moving average of $306.93 and a 200-day simple moving average of $306.17.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share 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 business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the business earned $2.97 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s 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.