Cahaba Wealth Management Inc. Has $798,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Cahaba Wealth Management Inc. lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,130 shares of the fast-food giant’s stock after selling 73 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in McDonald’s were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Concentric Wealth Management LLC increased its holdings in McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after buying an additional 35 shares during the period. FinTrust Capital Advisors LLC increased its stake in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after acquiring an additional 36 shares during the period. 9258 Wealth Management LLC increased its stake in McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after acquiring an additional 37 shares during the period. MTM Investment Management LLC raised its position in McDonald’s by 3.3% in the first quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock worth $331,000 after purchasing an additional 38 shares in the last quarter. Finally, Weatherly Asset Management L. P. lifted its stake in McDonald’s by 0.9% during the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock worth $1,234,000 after purchasing an additional 38 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $289.58 on Friday. The stock’s 50-day simple moving average is $268.64 and its 200 day simple moving average is $270.91. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The company has a market cap of $208.70 billion, a P/E ratio of 24.58, a P/E/G ratio of 3.86 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company posted $3.17 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,291 shares of company stock valued at $1,689,073. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Tigress Financial upped their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, KeyCorp cut their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $303.89.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.