SeaCrest Wealth Management LLC Trims Position in McDonald’s Co. (NYSE:MCD)

SeaCrest Wealth Management LLC lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,405 shares of the fast-food giant’s stock after selling 141 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in McDonald’s were worth $1,376,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new position in McDonald’s during the 4th quarter valued at about $25,000. Atala Financial Inc purchased a new position in McDonald’s during the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald’s during the fourth quarter worth about $27,000. Collier Financial purchased a new position in shares of McDonald’s during the fourth quarter worth about $29,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of McDonald’s during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $307.44 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The stock has a 50 day moving average price of $312.29 and a two-hundred day moving average price of $302.57. The company has a market capitalization of $219.83 billion, a P/E ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the company posted $2.70 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.30%. McDonald’s’s payout ratio is currently 62.49%.

Analysts Set New Price Targets

Several research analysts have recently commented on MCD shares. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the stock from $346.00 to $315.00 in a report on Friday. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Truist Financial set a $350.00 price objective on McDonald’s in a report on Friday, May 2nd. Bank of America boosted their price objective on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Finally, Barclays boosted their price objective on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.96.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

About McDonald’s

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.