Axxcess Wealth Management LLC Sells 2,110 Shares of McDonald’s Co. (NYSE:MCD)

Axxcess Wealth Management LLC cut its position in shares of McDonald’s Co. (NYSE:MCD) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,592 shares of the fast-food giant’s stock after selling 2,110 shares during the quarter. Axxcess Wealth Management LLC’s holdings in McDonald’s were worth $6,522,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Aigen Investment Management LP acquired a new position in shares of McDonald’s in the 4th quarter valued at about $4,286,000. Hantz Financial Services Inc. bought a new position in shares of McDonald’s during the 2nd quarter worth approximately $6,612,000. California State Teachers Retirement System grew its position in shares of McDonald’s by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after buying an additional 15,863 shares during the period. Keystone Financial Group increased its stake in shares of McDonald’s by 5.9% in the 4th quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock valued at $2,667,000 after acquiring an additional 499 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its position in shares of McDonald’s by 411.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after acquiring an additional 6,031 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock valued at $1,689,073 over the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $296.66 on Tuesday. The company has a market capitalization of $213.80 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The company has a 50-day simple moving average of $273.87 and a 200 day simple moving average of $270.50.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the firm earned $3.17 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on MCD. Citigroup raised their price target on shares of McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a report on Friday. BMO Capital Markets dropped their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Barclays reduced their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price on the stock. Finally, Truist Financial reduced their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $306.11.

McDonald’s 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.