Forum Financial Management LP Lowers Stake in McDonald’s Corporation (NYSE:MCD)

Forum Financial Management LP cut its position in McDonald’s Corporation (NYSE:MCD) by 3.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,575 shares of the fast-food giant’s stock after selling 319 shares during the quarter. Forum Financial Management LP’s holdings in McDonald’s were worth $2,991,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald’s in the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald’s in the fourth quarter worth approximately $29,000. GKV Capital Management Co. Inc. bought a new stake in McDonald’s during the fourth quarter valued at approximately $30,000. Abound Financial LLC bought a new stake in McDonald’s during the first quarter valued at approximately $30,000. Finally, Copia Wealth Management bought a new stake in McDonald’s during the fourth quarter valued at approximately $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.3%

Shares of McDonald’s stock opened at $298.71 on Thursday. The firm has a market capitalization of $213.59 billion, a P/E ratio of 26.36, a PEG ratio of 3.12 and a beta of 0.53. The company has a 50 day moving average price of $303.10 and a 200 day moving average price of $302.60. McDonald’s Corporation has a 52 week low of $246.12 and a 52 week 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 EPS for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald’s’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.70 EPS. As a group, 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 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. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

Insider Buying and Selling

In other McDonald’s 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 owned 10,222 shares of the company’s stock, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock valued at $1,165,843 over the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of several recent research reports. KeyCorp cut their target price on shares of McDonald’s from $340.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research report on Tuesday, April 22nd. Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Citigroup boosted their target price on shares of McDonald’s from $364.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $319.48.

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.