Veracity Capital LLC Sells 280 Shares of McDonald’s Corporation $MCD

by · The Markets Daily

Veracity Capital LLC decreased its holdings in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 15.3% in the second quarter, HoldingsChannel reports. The firm owned 1,548 shares of the fast-food giant’s stock after selling 280 shares during the quarter. Veracity Capital LLC’s holdings in McDonald’s were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Mascagni Wealth Management Inc. bought a new position in McDonald’s during the 4th quarter valued at approximately $25,000. HFM Investment Advisors LLC bought a new position in McDonald’s during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s during the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new position in McDonald’s during the 4th quarter valued at approximately $29,000. Finally, Abound Financial LLC bought a new position in McDonald’s during the 1st quarter valued at approximately $30,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,341 shares of company stock valued at $2,544,327. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial upped their price target on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Guggenheim reiterated a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. Argus downgraded McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. TD Securities reiterated a “hold” rating and set a $305.00 target price on shares of McDonald’s in a report on Thursday, June 5th. Finally, Barclays upped their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus target price of $325.14.

Read Our Latest Stock Report on McDonald’s

McDonald’s Trading Down 1.1%

Shares of MCD opened at $302.08 on Tuesday. The business’s fifty day simple moving average is $305.50 and its two-hundred day simple moving average is $306.53. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market cap of $215.56 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 3.11 and a beta of 0.50.

McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. As a group, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

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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