Morris Financial Concepts Inc. Sells 2,953 Shares of McDonald's Corporation $MCD

Key Points

• Morris Financial Concepts Inc. reduced its holdings in McDonald's by 80.9% in the second quarter, selling 2,953 shares and leaving them with 696 shares valued at $203,000.
• Multiple institutional investors increased their shares in McDonald's during the first quarter, highlighting strong interest, with firms like First American Trust FSB growing its position by 55.9%.
• McDonald's announced a quarterly dividend of $1.77 per share with a yield of 2.3%, representing an annualized dividend payout of $7.08.

Morris Financial Concepts Inc. lessened its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 80.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 696 shares of the fast-food giant's stock after selling 2,953 shares during the quarter. Morris Financial Concepts Inc.'s holdings in McDonald's were worth $203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCD. First American Trust FSB grew its holdings in shares of McDonald's by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock worth $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA lifted its position in McDonald's by 58.0% during the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock valued at $71,829,000 after purchasing an additional 91,313 shares during the period. Hamilton Capital LLC lifted its position in McDonald's by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock valued at $982,000 after purchasing an additional 819 shares during the period. Red Door Wealth Management LLC raised its position 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 acquiring an additional 109 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of McDonald's by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after acquiring an additional 18,393 shares during the period. Institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock worth $1,973,407 over the last three months. Company insiders own 0.25% of the company's stock.

McDonald's Price Performance

Shares of McDonald's stock opened at $304.59 on Wednesday. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market capitalization of $217.35 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 3.16 and a beta of 0.50. The business has a fifty day simple moving average of $306.34 and a two-hundred day simple moving average of $305.63.

McDonald's (NYSE:MCD - Get Free Report) last posted 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. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the firm earned $2.97 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently announced 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 of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald's's dividend payout ratio (DPR) is currently 60.67%.

Analyst Ratings Changes

A number of analysts recently issued reports on MCD shares. JPMorgan Chase & Co. increased their target price on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Citigroup raised their price target on shares of McDonald's from $373.00 to $381.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Evercore ISI raised 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. Morgan Stanley raised their price target on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets raised 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 Thursday, September 4th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $324.73.

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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