Denali Advisors LLC Trims Position in McDonald’s Corporation $MCD

Denali Advisors LLC lessened its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.8% during the second quarter, HoldingsChannel reports. The firm owned 10,074 shares of the fast-food giant’s stock after selling 181 shares during the quarter. Denali Advisors LLC’s holdings in McDonald’s were worth $2,943,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MCD. Jacobsen Capital Management increased its holdings in shares of McDonald’s by 13.2% during the 2nd quarter. Jacobsen Capital Management now owns 1,220 shares of the fast-food giant’s stock worth $356,000 after buying an additional 142 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth $273,000. Schulhoff & Co. Inc. increased its holdings in shares of McDonald’s by 1.6% during the 2nd quarter. Schulhoff & Co. Inc. now owns 6,058 shares of the fast-food giant’s stock worth $1,770,000 after buying an additional 95 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of McDonald’s by 15.6% during the 2nd quarter. D.A. Davidson & CO. now owns 139,718 shares of the fast-food giant’s stock worth $40,822,000 after buying an additional 18,895 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of McDonald’s by 3.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 97,457 shares of the fast-food giant’s stock worth $28,474,000 after buying an additional 3,698 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $307.36 on Wednesday. The business has a 50-day moving average of $306.47 and a 200-day moving average of $305.48. The company has a market capitalization of $219.33 billion, a PE ratio of 26.34, a P/E/G ratio of 3.25 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share 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 company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,463 shares of company stock valued at $1,692,186. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Stifel Nicolaus increased their price target on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. JPMorgan Chase & Co. increased their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Barclays increased their price target on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, 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 report on Tuesday, October 14th. Eleven investment 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 an average rating of “Hold” and a consensus target price of $324.41.

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.