Empower Advisory Group LLC Sells 1,205 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• Empower Advisory Group LLC reduced its stake in McDonald's by 9.3%, resulting in ownership of 11,713 shares valued at approximately $3.66 million.
• McDonald's announce a quarterly dividend of $1.77 per share, with a total annualized dividend of $7.08 and a yield of 2.4%.
• Analyst ratings for McDonald's are mixed, with a consensus rating of "Hold" and a price target of $323.39.

Empower Advisory Group LLC cut its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,713 shares of the fast-food giant's stock after selling 1,205 shares during the period. Empower Advisory Group LLC's holdings in McDonald's were worth $3,659,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC grew its position in McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after buying an additional 33 shares during the last quarter. CVA Family Office LLC lifted its position in shares of McDonald's by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after acquiring an additional 33 shares during the period. Consilium Wealth Advisory LLC boosted its position in McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after purchasing an additional 33 shares in the last quarter. Security Financial Services INC. boosted its position in shares of McDonald's by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after buying an additional 33 shares in the last quarter. Finally, Northeast Financial Consultants Inc grew its position in shares of McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after purchasing an additional 34 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCD has been the topic of a number of recent analyst reports. Northcoast Research lowered McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Citigroup increased their price objective on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Bank of America dropped their price objective on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Finally, Morgan Stanley increased their target price on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $326.87.

McDonald's Trading Down 0.7%

NYSE:MCD traded down $2.29 during trading hours on Friday, hitting $305.62. 2,621,959 shares of the company traded hands, compared to its average volume of 3,681,905. The firm has a 50-day moving average of $298.57 and a 200 day moving average of $304.33. McDonald's Corporation has a twelve month low of $265.33 and a twelve month high of $326.32. The stock has a market capitalization of $218.09 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 3.21 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) 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 firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is 60.67%.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 976 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $303.50, for a total value of $296,216.00. Following the transaction, the chief marketing officer directly owned 7,882 shares in the company, valued at $2,392,187. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,280 shares of company stock valued at $2,215,178 over the last three months. 0.25% of the stock is owned by insiders.

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.