Biltmore Family Office LLC Sells 1,833 Shares of McDonald’s Corporation $MCD

Biltmore Family Office LLC reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 39.4% in the second quarter, Holdings Channel reports. The fund owned 2,819 shares of the fast-food giant’s stock after selling 1,833 shares during the quarter. Biltmore Family Office LLC’s holdings in McDonald’s were worth $824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPlan Investment Management LLC boosted its position in shares of McDonald’s by 0.9% during the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after acquiring an additional 32 shares during the last quarter. Security Financial Services INC. boosted its position in shares of McDonald’s by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after acquiring an additional 33 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in shares of McDonald’s by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock valued at $3,620,000 after acquiring an additional 34 shares during the last quarter. Platform Technology Partners lifted its position in McDonald’s by 0.4% in the first quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after buying an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its position in McDonald’s by 3.4% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after buying an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Bank of America lowered their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Truist Financial lowered their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, TD Cowen raised their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Eleven equities 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. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and an average target price of $323.43.

McDonald’s Stock Down 1.0%

MCD stock opened at $306.79 on Wednesday. The business’s fifty day simple moving average is $306.44 and its two-hundred day simple moving average is $305.71. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The firm has a market cap of $218.93 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.31 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the firm posted $2.97 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.86 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s payout ratio is 60.67%.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on 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 owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,463 shares of company stock worth $1,692,186 over the last quarter. Company insiders own 0.25% of the company’s stock.

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.