Exchange Traded Concepts LLC Has $1.46 Million Holdings in McDonald's Corporation $MCD

Key Points

• Exchange Traded Concepts LLC reduced its holdings in McDonald’s by 68.2%, now owning 4,997 shares valued at approximately $1.46 million.
• A number of institutional investors, including Vanguard Group and Goldman Sachs, increased their stakes in McDonald’s during the first quarter of 2023.
• McDonald's recently declared a dividend of $1.77 per share, representing an annualized yield of 2.3% based on a payout ratio of 60.67%.

Exchange Traded Concepts LLC trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 68.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,997 shares of the fast-food giant's stock after selling 10,711 shares during the quarter. Exchange Traded Concepts LLC's holdings in McDonald's were worth $1,460,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald's during the fourth quarter worth about $25,000. HFM Investment Advisors LLC acquired a new position in McDonald's in the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald's during the 1st quarter worth $26,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's during the fourth quarter worth $29,000. Finally, Abound Financial LLC purchased a new stake in shares of McDonald's in the first quarter valued at $30,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. TD Securities reiterated a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Guggenheim reissued a "neutral" rating on shares of McDonald's in a research note on Friday, August 8th. TD Cowen raised their target price on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $325.86.

McDonald's Price Performance

Shares of NYSE:MCD traded up $1.09 on Monday, reaching $303.47. 3,637,178 shares of the company traded hands, compared to its average volume of 3,025,440. The stock has a market capitalization of $216.56 billion, a PE ratio of 26.00, a P/E/G ratio of 3.08 and a beta of 0.49. The company's 50 day moving average is $306.06 and its 200-day moving average is $306.41. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

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, topping the consensus estimate 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 company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the business posted $2.97 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald's's payout ratio is 60.67%.

Insider Activity

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares of the company's stock, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock worth $2,273,407 in the last 90 days. Corporate insiders own 0.25% of the company's stock.

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.