Absher Wealth Management LLC Sells 12,189 Shares of McDonald's Corporation (NYSE:MCD)

Absher Wealth Management LLC decreased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,182 shares of the fast-food giant's stock after selling 12,189 shares during the quarter. McDonald's comprises 2.6% of Absher Wealth Management LLC's holdings, making the stock its 24th largest position. Absher Wealth Management LLC's holdings in McDonald's were worth $20,049,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in McDonald's by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after purchasing an additional 526,466 shares during the period. Geode Capital Management LLC lifted its position in McDonald's by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock valued at $4,652,768,000 after buying an additional 157,458 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of McDonald's by 5.2% in the fourth quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock valued at $3,088,037,000 after purchasing an additional 531,070 shares during the period. Norges Bank purchased a new position in shares of McDonald's in the fourth quarter valued at $2,725,190,000. Finally, Northern Trust Corp raised its holdings in McDonald's by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after acquiring an additional 895,896 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on MCD shares. Citigroup upped their price target 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. KeyCorp raised their price objective on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Robert W. Baird increased their price target on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $345.00 target price (up from $340.00) on shares of McDonald's in a research report on Monday, May 5th. Finally, Redburn Atlantic reissued a "sell" rating and set a $260.00 price objective (down from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $321.79.

Insider Transactions at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction 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 sale, the insider now directly owns 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is owned by corporate insiders.

McDonald's Stock Up 0.7%

Shares of MCD stock traded up $1.96 during trading on Monday, reaching $289.42. 4,915,295 shares of the company's stock were exchanged, compared to its average volume of 3,516,904. The stock has a market capitalization of $206.94 billion, a PE ratio of 25.54, a PEG ratio of 3.00 and a beta of 0.56. McDonald's Corporation has a twelve month low of $243.53 and a twelve month high of $326.32. The firm's fifty day moving average price is $310.55 and its 200-day moving average price is $302.86.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the prior year, the firm posted $2.70 EPS. The company's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

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.