Leo Brokerage LLC Sells 1,728 Shares of McDonald’s Co. (NYSE:MCD)

Leo Brokerage LLC cut its stake in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 67.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 848 shares of the fast-food giant’s stock after selling 1,728 shares during the period. Leo Brokerage LLC’s holdings in McDonald’s were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hodges Capital Management Inc. raised its stake in McDonald’s by 31.3% in the first quarter. Hodges Capital Management Inc. now owns 6,302 shares of the fast-food giant’s stock worth $1,558,000 after buying an additional 1,502 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC grew its position in McDonald’s by 4.9% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 993 shares of the fast-food giant’s stock valued at $246,000 after purchasing an additional 46 shares during the last quarter. Key Financial Inc grew its position in McDonald’s by 3.9% during the 1st quarter. Key Financial Inc now owns 3,509 shares of the fast-food giant’s stock valued at $868,000 after purchasing an additional 131 shares during the last quarter. Compagnie Lombard Odier SCmA grew its position in McDonald’s by 5.1% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 52,469 shares of the fast-food giant’s stock valued at $12,970,000 after purchasing an additional 2,553 shares during the last quarter. Finally, Journey Strategic Wealth LLC raised its holdings in shares of McDonald’s by 5.4% during the first quarter. Journey Strategic Wealth LLC now owns 1,846 shares of the fast-food giant’s stock valued at $457,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.

McDonald’s Stock Up 0.6 %

MCD opened at $254.91 on Monday. The business has a fifty day moving average of $258.20 and a 200 day moving average of $249.05. McDonald’s Co. has a 52-week low of $217.68 and a 52-week high of $271.15. The stock has a market cap of $187.54 billion, a P/E ratio of 31.39, a PEG ratio of 3.10 and a beta of 0.57.

McDonald’s (NYSE:MCDGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. McDonald’s had a negative return on equity of 129.90% and a net margin of 25.77%. The company had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the previous year, the business earned $2.37 EPS. McDonald’s’s revenue was down 2.9% compared to the same quarter last year. Equities analysts anticipate that McDonald’s Co. will post 9.83 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Wednesday, August 31st. McDonald’s’s payout ratio is currently 67.98%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCD. BMO Capital Markets boosted their target price on shares of McDonald’s from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Sanford C. Bernstein initiated coverage on McDonald’s in a report on Wednesday, September 7th. They issued a “market perform” rating and a $267.00 target price on the stock. Citigroup boosted their price target on McDonald’s from $266.00 to $275.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Robert W. Baird set a $285.00 price objective on shares of McDonald’s in a research report on Tuesday, July 19th. Finally, Piper Sandler lifted their target price on shares of McDonald’s from $263.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, September 7th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.04.

Insider Activity at McDonald’s

In other McDonald’s news, SVP Catherine A. Hoovel sold 2,371 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total value of $606,075.02. Following the completion of the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $302,654.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Ian Frederick Borden sold 5,320 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $265.00, for a total transaction of $1,409,800.00. Following the completion of the sale, the insider now directly owns 7,131 shares in the company, valued at approximately $1,889,715. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Catherine A. Hoovel sold 2,371 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total value of $606,075.02. Following the sale, the senior vice president now owns 1,184 shares of the company’s stock, valued at $302,654.08. The disclosure for this sale can be found here. Insiders sold a total of 20,191 shares of company stock worth $5,250,365 in the last quarter. 0.18% of the stock is owned by company insiders.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

See Also

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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