McDonald’s Co. (NYSE:MCD) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 23.1% during the first quarter, Holdings Channel.com reports. The fund owned 63,356 shares of the fast-food giant’s stock after selling 18,994 shares during the period. Miracle Mile Advisors LLC’s holdings in McDonald’s were worth $19,791,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MCD. Granite Bay Wealth Management LLC boosted its holdings in shares of McDonald’s by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after purchasing an additional 33 shares during the period. Northeast Financial Consultants Inc lifted its position in shares of McDonald’s by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after buying an additional 34 shares during the last quarter. Tealwood Asset Management Inc. lifted its holdings in McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock worth $2,535,000 after purchasing an additional 34 shares during the last quarter. Pettee Investors Inc. lifted its stake in shares of McDonald’s by 0.7% in the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after buying an additional 35 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of McDonald’s by 4.1% during the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after purchasing an additional 35 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

MCD stock opened at $307.44 on Friday. The business’s 50-day moving average is $312.29 and its two-hundred day moving average is $302.66. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The company has a market cap of $219.83 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter in the previous year, the company earned $2.70 EPS. McDonald’s’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s dividend payout ratio is 62.49%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCD shares. Robert W. Baird upped their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Morgan Stanley dropped their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and lowered their target price for the company from $346.00 to $315.00 in a research note on Friday. KeyCorp raised their price target on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Finally, Citigroup lifted their price target 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. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.96.

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.