Triangle Securities Wealth Management Has $408,000 Stock Holdings in McDonald's Corporation $MCD

Key Points

• Triangle Securities Wealth Management significantly reduced its holdings in McDonald's Corporation by 61.5%, now owning 1,397 shares worth $408,000.
• McDonald's reported $3.19 EPS for the latest quarter, surpassing analysts' expectations, with a revenue of $6.84 billion, reflecting a 5.4% year-over-year increase.
• The company recently announced a quarterly dividend of $1.77, with a dividend yield of 2.3% and a payout ratio of 60.67%.

Triangle Securities Wealth Management cut its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 61.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,397 shares of the fast-food giant's stock after selling 2,230 shares during the quarter. Triangle Securities Wealth Management's holdings in McDonald's were worth $408,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in McDonald's by 21.6% during the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after buying an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of McDonald's by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after buying an additional 52 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of McDonald's by 15.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock worth $60,722,000 after acquiring an additional 27,774 shares during the last quarter. GHE LLC grew its stake in McDonald's by 0.9% during the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock worth $4,255,000 after purchasing an additional 136 shares during the period. Finally, Vise Technologies Inc. lifted its holdings in shares of McDonald's by 88.4% in the fourth quarter. Vise Technologies Inc. now owns 8,004 shares of the fast-food giant's stock valued at $2,320,000 after purchasing an additional 3,756 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the 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 directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald'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 completion of the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,402 shares of company stock worth $2,273,407. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

MCD has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Truist Financial increased their target price 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. KeyCorp reiterated an "overweight" rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Bank of America dropped their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Finally, Redburn Atlantic restated a "sell" rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Eleven 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. According to data from MarketBeat, McDonald's currently has a consensus rating of "Hold" and an average price target of $325.86.

McDonald's Stock Performance

Shares of NYSE MCD traded down $1.96 during mid-day trading on Tuesday, hitting $301.04. 713,771 shares of the stock traded hands, compared to its average volume of 3,537,303. The stock has a fifty day moving average price of $306.09 and a 200-day moving average price of $306.29. The company has a market cap of $214.82 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.08 and a beta of 0.49. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating 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 business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the company posted $2.97 EPS. McDonald's's revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given 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 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.