Means Investment CO. Inc. Sells 2,068 Shares of McDonald’s Corporation (NYSE:MCD)

Means Investment CO. Inc. cut its stake in McDonald’s Corporation (NYSE:MCD) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,741 shares of the fast-food giant’s stock after selling 2,068 shares during the quarter. Means Investment CO. Inc.’s holdings in McDonald’s were worth $3,043,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Granite Bay Wealth Management LLC grew its holdings in McDonald’s by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after acquiring an additional 33 shares during the period. CVA Family Office LLC lifted its stake in McDonald’s by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock valued at $560,000 after buying an additional 33 shares during the period. Consilium Wealth Advisory LLC boosted its holdings in shares of McDonald’s by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc grew its position in shares of McDonald’s by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after buying an additional 34 shares during the period. Finally, Tealwood Asset Management Inc. increased its stake in shares of McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock valued at $2,535,000 after acquiring an additional 34 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Down 1.1%

Shares of MCD opened at $289.24 on Friday. The stock has a 50 day moving average of $311.02 and a 200 day moving average of $302.84. The company has a market capitalization of $206.81 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.02 and a beta of 0.56. McDonald’s Corporation has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.70 EPS. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued 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 yield of 2.45%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on 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 approximately $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several research analyst reports. BTIG Research reissued 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 stock a “buy” rating in a research report on Friday, May 2nd. Piper Sandler raised their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 price target (up from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Finally, Erste Group Bank lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $321.79.

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.