3,917 Shares in McDonald's Corporation (NYSE:MCD) Bought by Econ Financial Services Corp

Econ Financial Services Corp acquired a new position in shares of McDonald's Corporation (NYSE:MCD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,917 shares of the fast-food giant's stock, valued at approximately $1,224,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Granite Bay Wealth Management LLC grew its position in McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after purchasing an additional 33 shares in the last quarter. CVA Family Office LLC grew its position 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 purchasing an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC grew its position in McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after purchasing an additional 33 shares in the last quarter. Northeast Financial Consultants Inc grew its position in McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after purchasing an additional 34 shares in the last quarter. Finally, Tealwood Asset Management Inc. grew its position in McDonald's by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock valued at $2,535,000 after purchasing an additional 34 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCD shares. TD Securities reissued a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a research report on Thursday, June 5th. Robert W. Baird lifted their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Morgan Stanley restated an "equal weight" rating and set a $324.00 target price (down previously from $329.00) on shares of McDonald's in a research note on Monday, June 9th. Finally, Redburn Atlantic restated a "sell" rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. One 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 has an average rating of "Hold" and a consensus price target of $321.79.

McDonald's Price Performance

MCD opened at $291.50 on Wednesday. McDonald's Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The firm has a market capitalization of $208.43 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.02 and a beta of 0.56. The company's 50 day moving average price is $309.60 and its two-hundred day moving average price is $302.72.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results 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 business had revenue of $5.96 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 earnings per share. As a group, equities research analysts predict that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The company 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 of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

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.

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