Gries Financial LLC Has $299,000 Holdings in McDonald’s Corporation (NYSE:MCD)

Gries Financial LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 22.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 956 shares of the fast-food giant’s stock after selling 279 shares during the quarter. Gries Financial LLC’s holdings in McDonald’s were worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Mascagni Wealth Management Inc. purchased a new position in shares of McDonald’s during the 4th quarter valued at $25,000. Abound Financial LLC purchased a new stake in McDonald’s during the 1st quarter worth about $30,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald’s in the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the 1st quarter valued at about $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of McDonald’s in the 1st quarter valued at about $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $295.62 on Tuesday. The company has a market capitalization of $211.38 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. McDonald’s Corporation has a fifty-two week low of $246.12 and a fifty-two week high of $326.32. The firm has a 50-day simple moving average of $302.50 and a 200-day simple moving average of $302.88.

McDonald’s (NYSE:MCD) last issued 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. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same period last year, the company posted $2.70 EPS. The company’s revenue was down 3.5% on a year-over-year basis. Equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent research reports. TD Securities reiterated a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 5th. Barclays upped their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price on the stock in a research note on Thursday, July 10th. Redburn Atlantic reaffirmed a “sell” rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Finally, Bank of America reduced their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $319.72.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider owned 10,222 shares of the company’s stock, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on 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 directly owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,817 shares of company stock worth $1,165,843. 0.25% of the stock is owned by company insiders.

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.