Johnson Investment Counsel Inc. Sells 3,755 Shares of McDonald’s Corporation $MCD

Johnson Investment Counsel Inc. trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 317,780 shares of the fast-food giant’s stock after selling 3,755 shares during the period. Johnson Investment Counsel Inc.’s holdings in McDonald’s were worth $92,846,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Inman Jager Wealth Management LLC raised its position in McDonald’s by 2.8% during the 2nd quarter. Inman Jager Wealth Management LLC now owns 5,043 shares of the fast-food giant’s stock worth $1,473,000 after purchasing an additional 135 shares during the last quarter. Apollon Wealth Management LLC raised its position in McDonald’s by 2.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 54,647 shares of the fast-food giant’s stock worth $15,966,000 after purchasing an additional 1,448 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in McDonald’s by 6.8% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 27,049 shares of the fast-food giant’s stock worth $7,903,000 after purchasing an additional 1,732 shares during the last quarter. Natural Investments LLC raised its position in McDonald’s by 7.6% during the 2nd quarter. Natural Investments LLC now owns 1,424 shares of the fast-food giant’s stock worth $416,000 after purchasing an additional 101 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its position in McDonald’s by 1.2% during the 2nd quarter. Richardson Financial Services Inc. now owns 3,219 shares of the fast-food giant’s stock worth $958,000 after purchasing an additional 37 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCD shares. Royal Bank Of Canada started coverage on McDonald’s in a research report on Wednesday. They set a “sector perform” rating and a $320.00 target price for the company. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday. Truist Financial raised their target price on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Barclays raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Eleven research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $325.18.

McDonald’s Trading Up 1.1%

MCD stock opened at $297.07 on Friday. The stock has a 50-day moving average price of $306.31 and a 200-day moving average price of $305.74. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The firm has a market cap of $211.99 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate 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 negative return on equity of 225.52% and a net margin of 32.21%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. On average, analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the firm’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 completion of the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,402 shares of company stock valued at $1,973,407. 0.25% of the stock is currently owned by corporate insiders.

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.