Axxcess Wealth Management LLC Lowers Position in McDonald's Corporation (NYSE:MCD)

Axxcess Wealth Management LLC lowered its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,434 shares of the fast-food giant's stock after selling 1,212 shares during the period. Axxcess Wealth Management LLC's holdings in McDonald's were worth $7,945,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Red Door Wealth Management LLC lifted its position in shares of McDonald's by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after purchasing an additional 109 shares during the period. Aviva PLC lifted its position in shares of McDonald's by 5.6% in the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock worth $125,350,000 after purchasing an additional 23,024 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of McDonald's by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after purchasing an additional 18,393 shares during the period. Sagespring Wealth Partners LLC lifted its position in shares of McDonald's by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after purchasing an additional 3,212 shares during the period. Finally, Segment Wealth Management LLC lifted its position in shares of McDonald's by 1.7% in the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after purchasing an additional 937 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

Shares of MCD traded up $1.41 on Friday, reaching $299.80. The company's stock had a trading volume of 4,494,100 shares, compared to its average volume of 3,528,540. The stock has a market capitalization of $214.37 billion, a P/E ratio of 26.46, a PEG ratio of 3.13 and a beta of 0.53. The stock's 50 day simple moving average is $304.11 and its two-hundred day simple moving average is $302.54. McDonald's Corporation has a 12-month low of $246.12 and a 12-month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.67. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.70 earnings per share. Analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Insider Activity at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider owned 10,222 shares of the company's stock, valued at $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,817 shares of company stock worth $1,165,843 in the last ninety days. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent research reports. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Northcoast Research lowered shares of McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and set a $324.00 price objective (down from $329.00) on shares of McDonald's in a research note on Monday, June 9th. Loop Capital lowered shares of McDonald's from a "buy" rating to a "hold" rating and reduced their price objective for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Finally, Truist Financial raised their price objective on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $322.29.

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.