Fiduciary Group LLC Sells 76 Shares of McDonald’s Corporation (NYSE:MCD)
by Danessa Lincoln · The Markets DailyFiduciary Group LLC trimmed its stake in McDonald’s Corporation (NYSE:MCD – Free Report) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,478 shares of the fast-food giant’s stock after selling 76 shares during the quarter. Fiduciary Group LLC’s holdings in McDonald’s were worth $2,648,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in McDonald’s in the 4th quarter valued at approximately $2,725,190,000. GAMMA Investing LLC raised its stake in shares of McDonald’s by 39,039.7% in the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock worth $1,092,645,000 after purchasing an additional 3,488,982 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of McDonald’s during the fourth quarter valued at $703,074,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at $350,935,000. Finally, Northern Trust Corp boosted its position in shares of McDonald’s by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after buying an additional 895,896 shares during the last quarter. 70.29% of the stock is owned by institutional investors.
McDonald’s Price Performance
McDonald’s stock opened at $295.08 on Wednesday. The firm has a market capitalization of $210.99 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. McDonald’s Corporation has a 1-year low of $243.53 and a 1-year high of $326.32. The company’s 50-day moving average is $307.49 and its 200 day moving average is $302.45.
McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter in the prior year, the firm posted $2.70 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.
McDonald’s Announces Dividend
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 $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. McDonald’s’s payout ratio is 62.49%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Citigroup increased their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and cut their target price for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Erste Group Bank cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Truist Financial set a $350.00 price target on McDonald’s in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $321.17.
Read Our Latest Research Report on McDonald’s
Insider Buying and Selling at McDonald’s
In other news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the transaction, the insider directly owned 10,222 shares in the company, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 2,817 shares of company stock worth $865,843 in the last ninety days. 0.25% of the stock is currently owned by company insiders.
About McDonald’s
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.
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