EverSource Wealth Advisors LLC Decreases Stock Holdings in McDonald's Corporation $MCD

Key Points

• EverSource Wealth Advisors LLC has reduced its stake in McDonald's Corporation by 32.0%, owning 6,001 shares now worth approximately $1.88 million.
• Several other institutional investors, including Brighton Jones LLC and Jump Financial LLC, have increased their holdings, indicating strong interest as institutional ownership stands at 70.29%.
• McDonald's recently announced a quarterly dividend of $1.77 per share, translating to an annualized dividend yield of 2.3%.

EverSource Wealth Advisors LLC lessened its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,001 shares of the fast-food giant's stock after selling 2,820 shares during the period. EverSource Wealth Advisors LLC's holdings in McDonald's were worth $1,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MCD. First American Trust FSB raised its holdings in McDonald's by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after acquiring an additional 13,234 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in shares of McDonald's by 1.9% during 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 buying an additional 109 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of McDonald's by 5.6% during 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 buying an additional 18,393 shares during the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of McDonald's by 22.9% during the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after buying an additional 3,212 shares during the last quarter. Finally, Segment Wealth Management LLC increased its holdings in shares of McDonald's by 1.7% during the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent analyst reports. Bank of America cut their price target on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Truist Financial increased their price objective on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Northcoast Research cut shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, 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. Thirteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and a consensus price target of $326.87.

Insider Buying and Selling at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company's stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,280 shares of company stock worth $2,525,178. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Stock Up 0.7%

MCD stock traded up $2.0640 during midday trading on Wednesday, hitting $312.9940. The company's stock had a trading volume of 2,558,363 shares, compared to its average volume of 3,601,547. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a market capitalization of $223.35 billion, a P/E ratio of 26.84, a PEG ratio of 3.15 and a beta of 0.52. The firm has a 50-day simple moving average of $298.34 and a 200-day simple moving average of $305.35.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter last year, the company posted $2.97 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. 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.