MainStreet Investment Advisors LLC Sells 3,776 Shares of McDonald’s Co. (NYSE:MCD)

MainStreet Investment Advisors LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,313 shares of the fast-food giant’s stock after selling 3,776 shares during the period. McDonald’s comprises 1.2% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 25th biggest holding. MainStreet Investment Advisors LLC’s holdings in McDonald’s were worth $9,764,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its stake in McDonald’s by 20.7% during the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after buying an additional 753 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in shares of McDonald’s by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after buying an additional 240 shares in the last quarter. 9258 Wealth Management LLC lifted its position in shares of McDonald’s by 4.2% during the 4th quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock worth $829,000 after buying an additional 113 shares during the period. Gryphon Financial Partners LLC boosted its stake in McDonald’s by 99.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after buying an additional 2,935 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in McDonald’s by 4.3% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,987 shares of the fast-food giant’s stock valued at $1,775,000 after acquiring an additional 249 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 0.5 %

MCD opened at $289.51 on Friday. The stock has a market cap of $208.64 billion, a P/E ratio of 24.58, a P/E/G ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The company has a fifty day simple moving average of $268.64 and a 200 day simple moving average of $270.76.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the firm earned $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MCD shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Truist Financial cut their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus reduced their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.67.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,291 shares of company stock worth $1,689,073. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.