NorthRock Partners LLC Sells 3,254 Shares of McDonald's Corporation $MCD

Key Points

• NorthRock Partners LLC reduced its stake in McDonald's Corporation by 14.3%, selling 3,254 shares and holding 19,481 shares worth approximately $5.78 million.
• Several research analysts have raised their target prices for McDonald's stock, with KeyCorp setting a new price objective of $335.00 and BMO Capital Markets increasing their target to $360.00, reflecting overall positive sentiment.
• McDonald's recently declared a quarterly dividend of $1.77 per share, indicating an annualized dividend of $7.08 and a yield of 2.4%.

NorthRock Partners LLC trimmed its position in McDonald's Corporation (NYSE:MCD - Free Report) by 14.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,481 shares of the fast-food giant's stock after selling 3,254 shares during the period. NorthRock Partners LLC's holdings in McDonald's were worth $5,780,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Nova Wealth Management Inc. bought a new position in shares of McDonald's in the 1st quarter valued at $26,000. HFM Investment Advisors LLC bought a new position in shares of McDonald's in the 1st quarter valued at $26,000. Abound Financial LLC bought a new position in shares of McDonald's in the 1st quarter valued at $30,000. GFG Capital LLC bought a new position in shares of McDonald's in the 2nd quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald's during the 1st quarter worth $31,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 stock was sold at an average price of $315.00, for a total value of $315,000.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% 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 90 days. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MCD shares. Stifel Nicolaus raised their target price on McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a research report on Friday, August 22nd. KeyCorp reissued an "overweight" rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald's in a research report on Thursday, August 7th. Morgan Stanley lifted 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. BMO Capital Markets raised their target price on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, Truist Financial raised their target price on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and an average price target of $325.18.

McDonald's Stock Performance

MCD stock opened at $297.07 on Monday. The company has a market capitalization of $211.99 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 3.12 and a beta of 0.50. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The business has a 50-day simple moving average of $306.31 and a two-hundred day simple moving average of $305.69.

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, beating analysts' consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The company's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 EPS. As a group, sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid 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 yield of 2.4%. McDonald's's payout ratio is 60.67%.

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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