Main Street Financial Solutions LLC Sells 295 Shares of McDonald’s Co. (NYSE:MCD)

Main Street Financial Solutions LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,955 shares of the fast-food giant’s stock after selling 295 shares during the period. Main Street Financial Solutions LLC’s holdings in McDonald’s were worth $2,306,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCD. Morse Asset Management Inc lifted its stake in shares of McDonald’s by 12.8% in the third quarter. Morse Asset Management Inc now owns 3,385 shares of the fast-food giant’s stock valued at $1,031,000 after buying an additional 385 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of McDonald’s by 11.6% in the third quarter. McIlrath & Eck LLC now owns 1,537 shares of the fast-food giant’s stock valued at $468,000 after purchasing an additional 160 shares during the period. Virtu Financial LLC bought a new stake in shares of McDonald’s during the third quarter valued at about $1,647,000. Diamant Asset Management Inc. boosted its holdings in McDonald’s by 1.9% in the 3rd quarter. Diamant Asset Management Inc. now owns 9,544 shares of the fast-food giant’s stock valued at $2,906,000 after purchasing an additional 180 shares during the period. Finally, Tudor Financial Inc. purchased a new stake in McDonald’s in the third quarter valued at approximately $394,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Down 1.2 %

Shares of NYSE MCD opened at $312.34 on Wednesday. The company has a market cap of $223.15 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The stock’s 50 day simple moving average is $307.01 and its 200 day simple moving average is $299.18. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, equities analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Analysts Set New Price Targets

A number of brokerages recently commented on MCD. Bank of America lifted their target price on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. Piper Sandler reduced their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, BMO Capital Markets raised their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $322.87.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Manuel Jm Steijaert sold 10,459 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $308.71, for a total transaction of $3,228,797.89. Following the completion of the sale, the executive vice president now directly owns 4,606 shares in the company, valued at approximately $1,421,918.26. The trade was a 69.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,497 shares of company stock valued at $8,461,400 over the last quarter. Insiders own 0.23% 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.