Kingswood Wealth Advisors LLC Sells 23,108 Shares of McDonald's Corporation $MCD

Key Points

• Kingswood Wealth Advisors LLC reduced its holdings in McDonald's Corporation by **78.2%**, selling 23,108 shares during the second quarter, leaving them with only 6,449 shares valued at $1,884,000.
• Several other institutional investors also adjusted their positions in McDonald's, with Nuveen LLC acquiring a new stake valued at approximately **$1.32 billion** during the first quarter.
• McDonald's reported a quarterly EPS of **$3.19**, surpassing analysts' expectations of $3.15, while also declaring a quarterly dividend of $1.77, resulting in an annualized yield of **2.4%**.

Kingswood Wealth Advisors LLC trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 78.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,449 shares of the fast-food giant's stock after selling 23,108 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in McDonald's were worth $1,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Nuveen LLC bought a new stake in McDonald's during the 1st quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD raised its holdings in McDonald's by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock valued at $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in McDonald's by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after buying an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in McDonald's by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant's stock valued at $203,211,000 after buying an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in McDonald's by 204.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant's stock valued at $177,390,000 after buying an additional 407,982 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCD. Bank of America reduced their price objective 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. Melius began coverage on shares of McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 price objective on the stock. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Barclays boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $325.86.

Insider Activity

In related news, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by company insiders.

McDonald's Price Performance

NYSE:MCD opened at $296.35 on Wednesday. The firm's 50-day moving average price is $306.74 and its 200-day moving average price is $306.02. The company has a market capitalization of $211.47 billion, a PE ratio of 25.39, a P/E/G ratio of 3.01 and a beta of 0.50. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The firm 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 company's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 EPS. Equities analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. McDonald's's payout ratio is presently 60.67%.

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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