Apollon Wealth Management LLC Boosts Stock Position in McDonald's Corporation (NYSE:MCD)

Apollon Wealth Management LLC lifted its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 6.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,199 shares of the fast-food giant's stock after buying an additional 3,428 shares during the quarter. Apollon Wealth Management LLC's holdings in McDonald's were worth $16,618,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Granite Bay Wealth Management LLC raised its holdings in McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC grew its position in shares of 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 shares of 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 shares of 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 worth $2,535,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

Shares of NYSE:MCD opened at $299.80 on Monday. The business's 50 day simple moving average is $304.11 and its 200-day simple moving average is $302.59. The firm has a market capitalization of $214.37 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53. McDonald's Corporation has a 12 month low of $246.12 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion for 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 company's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.70 EPS. On average, equities analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. McDonald's's dividend payout ratio is currently 62.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MCD shares. Argus lowered McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Robert W. Baird lifted their target price on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Barclays raised their price target on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, KeyCorp cut their target price on McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $322.29.

Insider Activity at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald'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 transaction of $270,920.28. Following the completion of the transaction, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock valued at $1,165,843 over the last 90 days. 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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