Fortitude Family Office LLC Sells 1,623 Shares of McDonald’s Co. (NYSE:MCD)

Fortitude Family Office LLC trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 38.5% during the first quarter, Holdings Channel reports. The institutional investor owned 2,591 shares of the fast-food giant’s stock after selling 1,623 shares during the quarter. Fortitude Family Office LLC’s holdings in McDonald’s were worth $809,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Granite Bay Wealth Management LLC lifted its position in shares of McDonald’s by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc increased its stake 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 purchasing an additional 34 shares in the last quarter. Tealwood Asset Management Inc. raised its position in shares of McDonald’s by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock valued at $2,535,000 after purchasing an additional 34 shares during the period. Pettee Investors Inc. raised its position in shares of McDonald’s by 0.7% during the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after purchasing an additional 35 shares during the period. Finally, Covestor Ltd lifted its stake 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 valued at $261,000 after buying an additional 35 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.5%

Shares of NYSE MCD opened at $301.93 on Thursday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The firm’s 50-day moving average price is $311.84 and its 200-day moving average price is $302.83. The stock has a market capitalization of $215.89 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 3.10 and a beta of 0.56.

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

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s payout ratio is 62.49%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were 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. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCD. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Northcoast Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Piper Sandler increased their target price on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Redburn Atlantic reissued a “sell” rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday. Finally, TD Securities reissued a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $321.79.

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.