Spirepoint Private Client LLC Sells 326 Shares of McDonald’s Corporation (NYSE:MCD)

Spirepoint Private Client LLC reduced its stake in McDonald’s Corporation (NYSE:MCD) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,432 shares of the fast-food giant’s stock after selling 326 shares during the period. Spirepoint Private Client LLC’s holdings in McDonald’s were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald’s during the 4th quarter valued at $25,000. Atala Financial Inc acquired a new position in McDonald’s in the fourth quarter valued at about $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s in the fourth quarter valued at about $29,000. Fairway Wealth LLC lifted its position in McDonald’s by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new stake in McDonald’s during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the transaction, the insider now directly owns 12,100 shares in the company, valued at $3,853,850. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 2,817 shares of company stock worth $865,843. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $289.42 on Tuesday. The stock has a market capitalization of $206.94 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. The stock’s 50 day moving average price is $310.02 and its 200-day moving average price is $302.79. McDonald’s Corporation has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the business posted $2.70 earnings per share. McDonald’s’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, June 2nd. McDonald’s’s dividend payout ratio is 62.49%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Robert W. Baird boosted their target price 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. Citigroup upped their target price on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $324.00 target price (down previously from $329.00) on shares of McDonald’s in a research report on Monday, June 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 target price (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Finally, BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $321.79.

McDonald’s 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.