Forum Financial Management LP Cuts Stake in McDonald’s Corporation (NYSE:MCD)

Forum Financial Management LP lowered its position in shares of McDonald’s Corporation (NYSE:MCD) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,575 shares of the fast-food giant’s stock after selling 319 shares during the period. Forum Financial Management LP’s holdings in McDonald’s were worth $2,991,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new position in McDonald’s during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new stake in shares of McDonald’s during the fourth quarter worth approximately $30,000. Abound Financial LLC acquired a new position in McDonald’s during the first quarter worth $30,000. Finally, Copia Wealth Management acquired a new position in McDonald’s during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider directly owned 10,222 shares of the company’s stock, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock worth $1,165,843 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. 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 note on Friday, May 2nd. Morgan Stanley increased their target price on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday. Robert W. Baird increased their target price on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Argus downgraded McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $319.48.

McDonald’s Stock Down 0.3%

Shares of NYSE:MCD opened at $298.71 on Thursday. The firm has a market cap of $213.59 billion, a PE ratio of 26.36, a PEG ratio of 3.12 and a beta of 0.53. The company’s 50 day moving average price is $303.10 and its two-hundred day moving average price is $302.60. McDonald’s Corporation has a 12-month low of $246.12 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results 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 net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. McDonald’s’s dividend payout ratio is presently 62.49%.

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.