Corient Private Wealth LLC Sells 30,696 Shares of McDonald’s Corporation $MCD

Corient Private Wealth LLC lessened its stake in McDonald’s Corporation (NYSE:MCD) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 906,676 shares of the fast-food giant’s stock after selling 30,696 shares during the period. Corient Private Wealth LLC owned 0.13% of McDonald’s worth $264,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MCD. Banque Transatlantique SA grew its holdings in McDonald’s by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after purchasing an additional 91,313 shares during the last quarter. Hamilton Capital LLC boosted its position in shares of McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after purchasing an additional 819 shares in the last quarter. Federated Hermes Inc. grew its stake in McDonald’s by 84.1% during the 2nd quarter. Federated Hermes Inc. now owns 141,775 shares of the fast-food giant’s stock worth $41,422,000 after buying an additional 64,757 shares during the last quarter. Welch Group LLC increased its position in McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares in the last quarter. Finally, Choreo LLC raised its stake in McDonald’s by 1.7% in the second quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock valued at $17,096,000 after buying an additional 954 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. The trade was a 58.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,030 shares of company stock valued at $12,240,570 over the last ninety days. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $316.84 on Monday. The firm’s fifty day simple moving average is $304.98 and its 200-day simple moving average is $303.64. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market capitalization of $225.64 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 3.52 and a beta of 0.52.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 earnings per share. As a group, sell-side analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $1.86 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research analyst reports. Morgan Stanley set a $335.00 price target on McDonald’s in a research note on Friday, October 17th. KeyCorp reissued an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a research report on Monday, October 20th. BMO Capital Markets restated an “outperform” rating on shares of McDonald’s in a research note on Thursday, November 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Finally, Guggenheim upped their target price on McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Eleven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $324.57.

McDonald’s Company 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 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.