Cerro Pacific Wealth Advisors LLC Lowers Stock Position in McDonald’s Corporation $MCD

Cerro Pacific Wealth Advisors LLC cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 5,673 shares of the fast-food giant’s stock after selling 108 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in McDonald’s were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds 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 worth approximately $26,000. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter worth $26,000. Abound Financial LLC acquired a new stake in shares of McDonald’s during the first quarter worth $30,000. GFG Capital LLC acquired a new stake in shares of McDonald’s during the second quarter worth $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter worth $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank Of Canada assumed coverage on McDonald’s in a report on Wednesday. They set a “sector perform” rating and a $320.00 price target for the company. BMO Capital Markets increased their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. increased their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, Truist Financial increased their price objective on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Eleven equities 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $325.18.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction 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 approximately $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,402 shares of company stock worth $1,973,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 1.1%

Shares of MCD stock opened at $297.07 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a market cap of $211.99 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.12 and a beta of 0.50. The business has a fifty day simple moving average of $306.31 and a 200-day simple moving average of $305.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the business posted $2.97 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

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.