Marcum Wealth LLC Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Marcum Wealth LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,090 shares of the fast-food giant’s stock after selling 143 shares during the period. Marcum Wealth LLC’s holdings in McDonald’s were worth $1,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wealthquest Corp boosted its holdings in McDonald’s by 4.2% in the second quarter. Wealthquest Corp now owns 2,768 shares of the fast-food giant’s stock valued at $639,000 after purchasing an additional 112 shares during the last quarter. National Asset Management Inc. boosted its holdings in McDonald’s by 18.4% in the second quarter. National Asset Management Inc. now owns 32,012 shares of the fast-food giant’s stock valued at $7,369,000 after purchasing an additional 4,964 shares during the last quarter. One Charles Private Wealth Services LLC purchased a new position in McDonald’s in the second quarter valued at about $487,000. Mercer Global Advisors Inc. ADV boosted its holdings in McDonald’s by 6.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 61,110 shares of the fast-food giant’s stock valued at $14,116,000 after purchasing an additional 3,781 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in McDonald’s by 1.9% in the second quarter. Principal Financial Group Inc. now owns 1,158,212 shares of the fast-food giant’s stock valued at $267,535,000 after purchasing an additional 21,758 shares during the last quarter. 66.34% of the stock is owned by hedge funds and other institutional investors.

NYSE MCD traded down $1.49 on Wednesday, reaching $239.64. 13,766 shares of the stock traded hands, compared to its average volume of 2,719,415. The firm’s fifty day simple moving average is $237.97 and its 200 day simple moving average is $232.04. The company has a market cap of $178.96 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 2.36 and a beta of 0.63. McDonald’s Co. has a 12 month low of $202.73 and a 12 month high of $247.05.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 27th. The fast-food giant reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.26. The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.63 billion. McDonald’s had a negative return on equity of 83.98% and a net margin of 31.72%. During the same period last year, the company posted $0.66 EPS. Research analysts predict that McDonald’s Co. will post 9 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, August 31st. McDonald’s’s payout ratio is currently 85.29%.

In other news, CFO Kevin M. Ozan sold 47,649 shares of the stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $243.90, for a total value of $11,621,591.10. Following the completion of the sale, the chief financial officer now owns 32,483 shares in the company, valued at $7,922,603.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Catherine A. Hoovel sold 2,493 shares of the stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $243.45, for a total value of $606,920.85. Following the completion of the sale, the senior vice president now owns 3,384 shares of the company’s stock, valued at approximately $823,834.80. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Several brokerages have issued reports on MCD. Morgan Stanley upped their price objective on McDonald’s from $259.00 to $266.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Wells Fargo & Company upped their price objective on McDonald’s from $268.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Piper Sandler upped their price objective on McDonald’s from $225.00 to $232.00 and gave the company a “neutral” rating in a research note on Thursday, July 29th. Jefferies Financial Group upped their price objective on McDonald’s from $272.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Finally, MKM Partners upped their price objective on McDonald’s from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $256.72.

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 in the United States. The International Operated Markets segment comprises operations and franchising of restaurant in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.

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

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