McDonald’s Co. (NYSE:MCD) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,605 shares of the fast-food giant’s stock after selling 631 shares during the period. McDonald’s accounts for approximately 1.9% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in McDonald’s were worth $16,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth approximately $25,000. Atala Financial Inc acquired a new position in McDonald’s during the fourth quarter worth approximately $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s during the fourth quarter worth approximately $29,000. Fairway Wealth LLC increased 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 buying an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new position in McDonald’s during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $302.93 on Friday. The business’s fifty day moving average price is $311.91 and its 200 day moving average price is $302.88. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The firm has a market capitalization of $216.60 billion, a PE ratio of 26.60, a P/E/G ratio of 3.10 and a beta of 0.56.

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 analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. McDonald’s’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.70 earnings per share. Equities research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 dividend on an annualized basis and a yield of 2.34%. McDonald’s’s payout ratio is 62.49%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’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 sale, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on MCD. Piper Sandler lifted their price target on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $324.00 price target (down previously from $329.00) on shares of McDonald’s in a research report on Monday. Barclays lifted their price target on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and lowered their target price for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Finally, Citigroup lifted their target price on McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.