Kingsview Wealth Management LLC Sells 2,307 Shares of McDonald’s Corporation $MCD

Kingsview Wealth Management LLC trimmed its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,922 shares of the fast-food giant’s stock after selling 2,307 shares during the period. Kingsview Wealth Management LLC’s holdings in McDonald’s were worth $16,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. raised its holdings in McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s during the second quarter valued at about $25,000. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s in the first quarter worth about $26,000. Finally, GFG Capital LLC purchased a new stake in McDonald’s in the second quarter worth about $29,000. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCD shares. JPMorgan Chase & Co. increased their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Truist Financial decreased their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Morgan Stanley set a $335.00 target price on shares of McDonald’s in a report on Friday, October 17th. TD Cowen upped their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Finally, Guggenheim decreased their price target on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $323.91.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $306.74 on Friday. The company has a 50-day simple moving average of $303.37 and a two-hundred day simple moving average of $304.64. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a market capitalization of $218.45 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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). The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.23 earnings per share. As a group, equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is 63.48%.

Insider Buying and Selling

In other McDonald’s news, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,134 shares of company stock worth $4,570,716. 0.25% of the stock is owned by corporate insiders.

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.