GSB Wealth Management LLC Sells 2,699 Shares of McDonald's Corporation $MCD

Key Points

• GSB Wealth Management LLC has reduced its stake in McDonald's Corporation by 32.8%, selling 2,699 shares to own a total of 5,531 shares valued at approximately $1.6 million.
• McDonald's reported a quarterly EPS of $3.19, surpassing analysts' expectations and reflecting a 5.4% revenue increase year-over-year.
• The company recently announced a quarterly dividend of $1.77 per share, with an annualized yield of 2.3% and a payout ratio of 60.67%.

GSB Wealth Management LLC decreased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 32.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,531 shares of the fast-food giant's stock after selling 2,699 shares during the quarter. GSB Wealth Management LLC's holdings in McDonald's were worth $1,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. WealthPlan Investment Management LLC boosted its stake in McDonald's by 0.9% during the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after acquiring an additional 32 shares during the last quarter. Granite Bay Wealth Management LLC boosted its stake in McDonald's by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after acquiring an additional 33 shares during the last quarter. CVA Family Office LLC boosted its stake in 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 worth $560,000 after acquiring an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC raised its holdings in McDonald's by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares during the period. Finally, Security Financial Services INC. raised its holdings in McDonald's by 0.7% during 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 during the period. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 0.4%

Shares of MCD opened at $303.47 on Tuesday. The company has a market cap of $216.56 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.08 and a beta of 0.49. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The company's fifty day simple moving average is $306.09 and its 200 day simple moving average is $306.29.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same period in the previous year, the business posted $2.97 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

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

Insider Activity at McDonald's

In other McDonald's 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 transaction, the insider directly owned 9,283 shares of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction on Thursday, July 10th. The stock was 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 of the company's stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on MCD shares. KeyCorp restated an "overweight" rating and set a $335.00 target price (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Morgan Stanley raised their target price on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Piper Sandler raised their target price on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Loop Capital downgraded shares of McDonald's from a "buy" rating to a "hold" rating and dropped their target price for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Finally, Bank of America dropped their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $325.86.

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.

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