McDonald's Corporation (NYSE:MCD) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lowered its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,018 shares of the fast-food giant's stock after selling 3,586 shares during the period. McDonald's accounts for 1.1% of Alpha Cubed Investments LLC's holdings, making the stock its 27th largest holding. Alpha Cubed Investments LLC's holdings in McDonald's were worth $25,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC raised its holdings in shares of McDonald's by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after acquiring an additional 33 shares during the period. CVA Family Office LLC raised its holdings in shares of McDonald's by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after acquiring an additional 33 shares during the period. Consilium Wealth Advisory LLC raised its holdings in shares of McDonald's by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after acquiring an additional 33 shares during the period. Northeast Financial Consultants Inc raised its holdings in shares of McDonald's by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after acquiring an additional 34 shares during the period. Finally, Tealwood Asset Management Inc. raised its holdings in shares of McDonald's by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock worth $2,535,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Price Performance

Shares of MCD stock traded down $0.59 during trading hours on Monday, reaching $293.49. 3,402,996 shares of the stock were exchanged, compared to its average volume of 3,538,406. The business's fifty day moving average is $306.11 and its two-hundred day moving average is $302.52. 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 $209.85 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.07 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last released 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. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. 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 earned $2.70 earnings per share. The business's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is 62.49%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Loop Capital lowered McDonald's from a "buy" rating to a "hold" rating and reduced their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Piper Sandler boosted their price objective on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Redburn Atlantic restated a "sell" rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. KeyCorp reduced their price objective on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $324.00 price objective (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. One investment 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $321.17.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 2,817 shares of company stock valued at $865,843 over the last three months. Corporate insiders own 0.25% of the company's stock.

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.