Commonwealth Financial Services LLC Reduces Stake in McDonald’s Corporation $MCD

Commonwealth Financial Services LLC lowered its stake in McDonald’s Corporation (NYSE:MCD) by 4.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,615 shares of the fast-food giant’s stock after selling 73 shares during the period. Commonwealth Financial Services LLC’s holdings in McDonald’s were worth $472,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the first quarter valued at approximately $26,000. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $26,000. Abound Financial LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $30,000. GFG Capital LLC purchased a new position in shares of McDonald’s during the second quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.1%

Shares of NYSE:MCD opened at $297.07 on Friday. The company has a market capitalization of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The firm has a 50 day moving average of $306.31 and a 200 day moving average of $305.74.

McDonald’s (NYSE:MCD) last issued 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 during 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%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.97 earnings per share. On average, sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s payout ratio is 60.67%.

Insider Buying and Selling at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Melius assumed coverage on McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 target price for the company. Guggenheim dropped their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday. TD Cowen lifted their price target on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday. Finally, Morgan Stanley lifted their price target on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $325.18.

About McDonald’s

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.