Austin Wealth Management LLC Decreases Stake in McDonald’s Corporation $MCD

Austin Wealth Management LLC cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 15.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 917 shares of the fast-food giant’s stock after selling 170 shares during the period. Austin Wealth Management LLC’s holdings in McDonald’s were worth $275,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Nuveen LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at approximately $1,324,961,000. Price T Rowe Associates Inc. MD grew its position in shares of McDonald’s by 16.8% during the first 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 buying an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of McDonald’s by 19.6% in the first 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. T. Rowe Price Investment Management Inc. raised its holdings in McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in McDonald’s by 204.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after acquiring an additional 407,982 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 2.5%

Shares of MCD stock opened at $306.48 on Wednesday. The stock has a 50-day simple moving average of $303.91 and a 200 day simple moving average of $304.75. The stock has a market capitalization of $218.26 billion, a P/E ratio of 26.26, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the company posted $3.23 earnings per share. McDonald’s’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. 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 63.48%.

Analyst Ratings Changes

Several research firms have recently weighed in on MCD. Truist Financial dropped their target price on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. 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 research note on Friday, July 18th. Stifel Nicolaus boosted their target price on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Barclays reduced their price objective on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and an average price target of $323.91.

Insiders Place Their Bets

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at $1,383,734.52. This trade represents a 74.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer 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 is available in the SEC filing. Over the last 90 days, insiders have sold 15,134 shares of company stock worth $4,570,716. 0.25% of the stock is owned by insiders.

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.