Keeler Thomas Management LLC Sells 7,885 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• Keeler Thomas Management LLC reduced its stock holdings in McDonald's by 46.5%, selling 7,885 shares and now holding 9,055 shares worth approximately $2.83 million as of the end of the last quarter.
• McDonald's reported earnings per share of $3.19 for the quarter, surpassing analysts' expectations of $3.15, with a net margin of 31.75% and revenue growth of 5.4% year-over-year.
• The company declared a quarterly dividend of $1.77 per share, reflecting an annualized dividend of $7.08 and a current yield of 2.3%, to be paid on September 16th.

Keeler Thomas Management LLC cut its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 46.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,055 shares of the fast-food giant's stock after selling 7,885 shares during the quarter. McDonald's comprises approximately 1.4% of Keeler Thomas Management LLC's holdings, making the stock its 22nd largest position. Keeler Thomas Management LLC's holdings in McDonald's were worth $2,829,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's in the fourth quarter valued at approximately $25,000. Abound Financial LLC bought a new position in shares of McDonald's in the first quarter valued at approximately $30,000. Pinney & Scofield Inc. bought a new position in shares of McDonald's in the fourth quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in shares of McDonald's in the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of McDonald's in the first quarter valued at approximately $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald's Trading Down 0.7%

NYSE MCD traded down $2.29 on Friday, hitting $305.62. 2,621,959 shares of the company were exchanged, compared to its average volume of 3,681,905. The firm has a 50 day moving average of $298.57 and a two-hundred day moving average of $304.33. The company has a market cap of $218.09 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.21 and a beta of 0.52. McDonald's Corporation has a 1-year low of $265.33 and a 1-year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 EPS. Research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCD. Bank of America dropped their price target on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Redburn Atlantic reaffirmed a "sell" rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Truist Financial boosted their target price on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Piper Sandler boosted their target price on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $326.87.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. The trade was 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 have sold 7,280 shares of company stock worth $2,215,178. 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.