Ironwood Investment Counsel LLC Cuts Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• Ironwood Investment Counsel LLC has reduced its stock position in McDonald's Corporation by 9.6%, bringing its total holdings to 9,864 shares worth approximately $3.08 million.
• McDonald's reported earnings of $3.19 per share for the last quarter, surpassing estimates, with revenue rising by 5.4% year-over-year to $6.84 billion.
• The company has declared a quarterly dividend of $1.77 per share, set to be paid on September 16, with an annualized dividend of $7.08 and a dividend yield of 2.3%.

Ironwood Investment Counsel LLC cut its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 9.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,864 shares of the fast-food giant's stock after selling 1,048 shares during the quarter. Ironwood Investment Counsel LLC's holdings in McDonald's were worth $3,081,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Granite Bay Wealth Management LLC grew its position 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 grew its position in shares of McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC grew its position in shares of McDonald's by 2.5% in 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 last quarter. Security Financial Services INC. grew 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 during the last quarter. Finally, Northeast Financial Consultants Inc grew its position in shares of McDonald's by 0.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after buying an additional 34 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald's Stock Performance

Shares of MCD stock traded down $2.29 during mid-day trading on Friday, hitting $305.62. The company's stock had a trading volume of 2,621,959 shares, compared to its average volume of 3,681,905. McDonald's Corporation has a 52-week low of $265.33 and a 52-week high of $326.32. The business has a 50-day moving average price of $298.57 and a 200 day moving average price of $304.33. The stock has a market cap of $218.09 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.21 and a beta of 0.52.

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

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be 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 is Tuesday, September 2nd. McDonald's's dividend payout ratio is 60.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MCD shares. Citigroup lifted their price objective on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Barclays raised their target price on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday. TD Cowen raised their target price on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research note on Wednesday. Argus cut McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Finally, The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $326.87.

Insider Activity 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 stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 976 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $303.50, for a total value of $296,216.00. Following the completion of the sale, the chief marketing officer owned 7,882 shares of the company's stock, valued at approximately $2,392,187. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,280 shares of company stock worth $2,215,178. 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.