LaFleur & Godfrey LLC Trims Stock Position in McDonald’s Corporation (NYSE:MCD)

LaFleur & Godfrey LLC cut its stake in McDonald’s Corporation (NYSE:MCD) by 31.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,177 shares of the fast-food giant’s stock after selling 5,169 shares during the period. LaFleur & Godfrey LLC’s holdings in McDonald’s were worth $3,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new stake in McDonald’s in the fourth quarter valued at $25,000. Atala Financial Inc purchased a new stake in McDonald’s in the fourth quarter valued at $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s in the fourth quarter valued at $29,000. Fairway Wealth LLC increased its stake in McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in McDonald’s in the fourth quarter valued at $30,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the company’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 sale, the insider now owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,817 shares of company stock valued at $865,843 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays lifted their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Piper Sandler lifted their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. TD Securities restated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 5th. Finally, Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the stock from $346.00 to $315.00 in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $321.79.

McDonald’s Trading Up 0.7%

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

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

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) 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.