HB Wealth Management LLC Sells 4,112 Shares of McDonald's Corporation $MCD

Key Points

• HB Wealth Management LLC has reduced its stake in McDonald's Corporation by 4.8%, selling 4,112 shares to hold a total of 81,340 shares valued at approximately $23.77 million.
• Analysts have raised price targets for McDonald's, with Citigroup increasing its target from $373.00 to $381.00 and Barclays boosting theirs from $355.00 to $360.00, indicating a generally positive outlook for the stock.
• McDonald's recently announced a quarterly dividend of $1.77 per share, reflecting an annualized yield of 2.3%, with a payout ratio of 60.67%.

HB Wealth Management LLC cut its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,340 shares of the fast-food giant's stock after selling 4,112 shares during the quarter. HB Wealth Management LLC's holdings in McDonald's were worth $23,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Smith Chas P & Associates PA Cpas grew its stake in shares of McDonald's by 0.9% in the second quarter. Smith Chas P & Associates PA Cpas now owns 176,983 shares of the fast-food giant's stock worth $51,709,000 after acquiring an additional 1,589 shares during the period. Baron Silver Stevens Financial Advisors LLC grew its stake in shares of McDonald's by 10.2% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,376 shares of the fast-food giant's stock worth $694,000 after acquiring an additional 220 shares during the period. Invesco LLC grew its stake in shares of McDonald's by 3.4% in the second quarter. Invesco LLC now owns 6,490 shares of the fast-food giant's stock worth $1,896,000 after acquiring an additional 214 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of McDonald's by 15.3% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,840 shares of the fast-food giant's stock worth $830,000 after acquiring an additional 376 shares during the period. Finally, Moss Adams Wealth Advisors LLC grew its stake in shares of McDonald's by 8.7% in the second quarter. Moss Adams Wealth Advisors LLC now owns 3,717 shares of the fast-food giant's stock worth $1,086,000 after acquiring an additional 299 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on MCD shares. Citigroup lifted their price target on shares of McDonald's from $373.00 to $381.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Barclays boosted their target price on shares of McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler boosted their target price on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Bank of America cut their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Finally, Stifel Nicolaus boosted their target price on shares of McDonald's from $300.00 to $315.00 and gave the company a "hold" rating in a research report on Friday, August 22nd. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $325.86.

McDonald's Stock Performance

MCD stock opened at $302.56 on Tuesday. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The company's fifty day moving average price is $306.62 and its 200-day moving average price is $306.27. The company has a market capitalization of $215.91 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49.

McDonald's (NYSE:MCD - Get Free Report) last released its 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 net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The company's quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

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

Insider Buying and Selling at McDonald's

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company's stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were 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 in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 in the last ninety days. Company insiders own 0.25% of the company's stock.

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.

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