McDonald’s Corporation (NYSE:MCD) Shares Sold by Primoris Wealth Advisors LLC

by · The Cerbat Gem

Primoris Wealth Advisors LLC lessened its holdings in McDonald’s Corporation (NYSE:MCDFree Report) by 19.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,614 shares of the fast-food giant’s stock after selling 387 shares during the period. Primoris Wealth Advisors LLC’s holdings in McDonald’s were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Brighton Jones LLC grew its position in McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of McDonald’s by 2.8% in the fourth 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 grew its holdings in 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 period. GHE LLC grew its holdings 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 acquiring an additional 136 shares during the period. Finally, NewEdge Wealth LLC raised its position in McDonald’s by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 93,175 shares of the fast-food giant’s stock valued at $27,011,000 after acquiring an additional 5,237 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Redburn Atlantic restated a “sell” rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Northcoast Research cut shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Barclays increased their price target on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. TD Securities reaffirmed a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Finally, Citigroup upped their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $321.79.

Get Our Latest Research Report on McDonald’s

McDonald’s Stock Performance

Shares of MCD stock opened at $285.79 on Friday. McDonald’s Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The stock’s fifty day moving average is $308.63 and its two-hundred day moving average is $302.49. The firm has a market capitalization of $204.35 billion, a P/E ratio of 25.22, a PEG ratio of 2.98 and a beta of 0.56.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.70 earnings per share. On average, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is 62.49%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider now owns 10,222 shares of the company’s stock, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 2,817 shares of company stock worth $865,843 in the last ninety days. Insiders own 0.25% of the company’s stock.

About McDonald’s

(Free Report)

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.

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