McDonald’s Co. (NYSE:MCD) Shares Sold by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,422 shares of the fast-food giant’s stock after selling 607 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in McDonald’s were worth $2,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independent Wealth Network Inc. grew its stake in McDonald’s by 4.2% during the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares during the period. Concentric Wealth Management LLC boosted its stake in shares of McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. Paragon Capital Management Ltd boosted its stake in shares of McDonald’s by 2.7% in the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares during the period. Mechanics Financial Corp boosted its stake in shares of McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 0.2 %

MCD traded down $0.40 on Friday, reaching $249.60. The company had a trading volume of 376,925 shares, compared to its average volume of 3,402,129. The company has a fifty day moving average of $261.17 and a 200-day moving average of $278.12. The company has a market capitalization of $179.88 billion, a P/E ratio of 21.22, a PEG ratio of 2.81 and a beta of 0.71. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter last year, the business posted $2.63 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts predict that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.68%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCD shares. JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. KeyCorp reduced their price objective on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. UBS Group reduced their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Truist Financial reduced their price objective on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Bank of America reduced their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $313.89.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,593 shares of company stock worth $1,472,518. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.