Cadinha & Co. LLC Sells 46,375 Shares of McDonald’s Co. (NYSE:MCD)

Cadinha & Co. LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 51.4% during the first quarter, HoldingsChannel reports. The firm owned 43,922 shares of the fast-food giant’s stock after selling 46,375 shares during the quarter. McDonald’s makes up 2.9% of Cadinha & Co. LLC’s investment portfolio, making the stock its 15th largest position. Cadinha & Co. LLC’s holdings in McDonald’s were worth $13,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after acquiring an additional 1,649 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of McDonald’s during the 4th quarter worth approximately $64,805,000. Revolve Wealth Partners LLC increased its holdings in shares of McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares during the last quarter. Gateway Wealth Partners LLC increased its holdings in shares of McDonald’s by 17.4% during the 4th quarter. Gateway Wealth Partners LLC now owns 1,556 shares of the fast-food giant’s stock worth $451,000 after acquiring an additional 231 shares during the last quarter. Finally, Strategic Blueprint LLC increased its holdings in shares of McDonald’s by 1.0% during the 4th quarter. Strategic Blueprint LLC now owns 4,521 shares of the fast-food giant’s stock worth $1,311,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $311.82 on Friday. The firm has a market cap of $222.96 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32. The business’s fifty day moving average is $312.27 and its 200-day moving average is $301.89.

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

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.27%. McDonald’s’s dividend payout ratio is currently 62.49%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler boosted their target price on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Barclays upped their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Erste Group Bank lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Robert W. Baird upped their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.91.

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.