Kestra Advisory Services LLC Cuts Stock Position in McDonald's Corporation $MCD

Key Points

• Kestra Advisory Services LLC reduced its stake in McDonald's Corporation by 7.0% during the first quarter, now holding 136,274 shares valued at approximately $42.57 million.
• In contrast, several other institutional investors increased their holdings, with First American Trust FSB boosting its stake by 55.9% in the same period.
• McDonald's reported a quarterly earnings per share (EPS) of $3.19, exceeding analyst estimates, and declared a quarterly dividend of $1.77, set to be paid on September 16th.

Kestra Advisory Services LLC decreased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 136,274 shares of the fast-food giant's stock after selling 10,320 shares during the quarter. Kestra Advisory Services LLC's holdings in McDonald's were worth $42,568,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First American Trust FSB boosted its holdings in McDonald's by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after purchasing an additional 13,234 shares during the period. Red Door Wealth Management LLC boosted its stake in shares of McDonald's by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after buying an additional 109 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after buying an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC increased its stake in shares of McDonald's by 22.9% during the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after buying an additional 3,212 shares during the period. Finally, Segment Wealth Management LLC raised its holdings in McDonald's by 1.7% in the first quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock valued at $17,078,000 after acquiring an additional 937 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 976 shares of McDonald's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the transaction, the chief marketing officer directly owned 7,882 shares in the company, valued at approximately $2,392,187. The trade was a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 7,341 shares of company stock worth $2,229,327 in the last quarter. 0.25% of the stock is currently owned by company insiders.

McDonald's Stock Performance

MCD opened at $313.1550 on Friday. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a market capitalization of $223.47 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.19 and a beta of 0.52. The business's 50-day simple moving average is $298.77 and its 200-day simple moving average is $305.56.

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

McDonald's Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on MCD. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and lowered their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Robert W. Baird boosted their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Melius initiated coverage on McDonald's in a report on Monday, July 14th. They issued a "sell" rating and a $250.00 target price on the stock. Evercore ISI lifted their price target on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Morgan Stanley upped their price objective on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and an average price target of $326.87.

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.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Corporation (NYSE:MCD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.