McDonald's Corporation $MCD Shares Sold by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC reduced its McDonald's shares by 6.6%, ending the second quarter with 25,163 shares valued at approximately $7.35 million.
• Analysts have mixed outlooks on McDonald's, with an average consensus rating of "Hold" and a target price of $325.86, highlighting some upgrades while others maintain a "sell" rating.
• The company recently declared a quarterly dividend of $1.77 per share, with a payout ratio of 60.67% and an annualized yield of 2.4%.

SteelPeak Wealth LLC trimmed its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,163 shares of the fast-food giant's stock after selling 1,790 shares during the period. SteelPeak Wealth LLC's holdings in McDonald's were worth $7,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HFM Investment Advisors LLC acquired a new position in McDonald's during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in McDonald's during the 1st quarter valued at about $26,000. Abound Financial LLC acquired a new position in McDonald's during the 1st quarter valued at about $30,000. Redmont Wealth Advisors LLC acquired a new position in McDonald's during the 1st quarter valued at about $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in McDonald's during the 1st quarter valued at about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp reaffirmed an "overweight" rating and issued a $335.00 price target (up from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Melius assumed coverage on shares of McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price target for the company. TD Cowen upped their price target on shares of McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Evercore ISI upped their price target on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Truist Financial upped their price target on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $325.86.

McDonald's Price Performance

MCD stock opened at $296.09 on Tuesday. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The firm has a market cap of $211.29 billion, a PE ratio of 25.37, a P/E/G ratio of 3.07 and a beta of 0.50. The firm has a 50 day simple moving average of $306.87 and a 200 day simple moving average of $306.09.

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, beating 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 business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the business earned $2.97 earnings per share. The business's quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

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

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% 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, EVP Desiree Ralls-Morrison sold 2,487 shares of the business's stock in a transaction that occurred 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 in the company, valued at $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock worth $2,273,407 over the last three months. 0.25% of the stock is owned by insiders.

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.

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