Altus Wealth Group LLC Has $318,000 Stock Holdings in McDonald's Corporation (NYSE:MCD)

Altus Wealth Group LLC trimmed its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 68.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,019 shares of the fast-food giant's stock after selling 2,232 shares during the quarter. Altus Wealth Group LLC's holdings in McDonald's were worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Red Door Wealth Management LLC raised its holdings in McDonald's by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after purchasing an additional 109 shares during the last quarter. Insight Inv LLC raised its position in shares of McDonald's by 1,022.6% in the 1st quarter. Insight Inv LLC now owns 15,615 shares of the fast-food giant's stock worth $4,878,000 after acquiring an additional 14,224 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in McDonald's in the first quarter worth approximately $65,000. Valley National Advisers Inc. boosted its holdings in shares of McDonald's by 2.1% during the 1st quarter. Valley National Advisers Inc. now owns 13,023 shares of the fast-food giant's stock worth $4,067,000 after buying an additional 263 shares in the last quarter. Finally, Jacobsen Capital Management increased its stake in shares of McDonald's by 11.0% in the 1st quarter. Jacobsen Capital Management now owns 1,078 shares of the fast-food giant's stock valued at $337,000 after acquiring an additional 107 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the subject of several research analyst reports. TD Securities reaffirmed a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Redburn Atlantic restated a "sell" rating and issued a $260.00 target price (down from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Piper Sandler upped their price target on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Citigroup raised their price objective on McDonald's from $353.00 to $364.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, McDonald's currently has an average rating of "Hold" and an average target price of $321.79.

McDonald's Trading Up 2.2%

Shares of MCD opened at $291.94 on Monday. The stock has a 50 day moving average of $308.26 and a 200 day moving average of $302.52. The company has a market capitalization of $208.74 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.04 and a beta of 0.56. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32.

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 (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 negative return on equity of 195.27% and a net margin of 31.75%. The business's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $2.70 EPS. As a group, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total value of $299,071.50. Following the transaction, the insider now owns 12,100 shares in the company, valued at approximately $3,853,850. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,817 shares of company stock valued at $865,843 in the last three months. Company insiders own 0.25% of the company's stock.

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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