McDonald’s Corporation (NYSE:MCD) Stake Lessened by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 5.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,976 shares of the fast-food giant’s stock after selling 475 shares during the quarter. Rehmann Capital Advisory Group’s holdings in McDonald’s were worth $2,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth $25,000. Atala Financial Inc acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $26,000. Abound Financial LLC acquired a new stake in McDonald’s during the first quarter worth about $30,000. Pinney & Scofield Inc. acquired a new stake in McDonald’s during the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider directly owned 10,222 shares of the company’s stock, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 2,817 shares of company stock worth $865,843 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 0.6%

Shares of MCD stock opened at $291.70 on Wednesday. McDonald’s Corporation has a 12-month low of $243.53 and a 12-month high of $326.32. The firm has a market capitalization of $208.57 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. The firm has a fifty day moving average of $305.18 and a 200-day moving average of $302.45.

McDonald’s (NYSE:MCD) last posted 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. 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 period last year, the company earned $2.70 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. 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 given a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.43%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent research reports. Northcoast Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. BMO Capital Markets restated an “outperform” rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Redburn Atlantic restated a “sell” rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $324.00 target price (down previously from $329.00) on shares of McDonald’s in a research note on Monday, June 9th. Finally, Barclays lifted their target price 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. One equities 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, McDonald’s has an average rating of “Hold” and a consensus target price of $321.17.

McDonald’s Company 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.