Bridges Investment Management Inc. Has $30.62 Million Position in McDonald's Corporation (NYSE:MCD)

Bridges Investment Management Inc. lessened its position in McDonald's Corporation (NYSE:MCD - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,010 shares of the fast-food giant's stock after selling 1,704 shares during the quarter. Bridges Investment Management Inc.'s holdings in McDonald's were worth $30,615,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Granite Bay Wealth Management LLC lifted its position 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 buying an additional 33 shares in the last quarter. CVA Family Office LLC lifted its position in McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC lifted its position in McDonald's by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc increased its stake 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 purchasing an additional 34 shares during the last quarter. Finally, Tealwood Asset Management Inc. increased its stake 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 purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MCD. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research note on Thursday. TD Securities restated a "hold" rating and set a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Robert W. Baird lifted their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Finally, BTIG Research reiterated a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $322.29.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 2,817 shares of company stock worth $865,843. 0.25% of the stock is currently owned by company insiders.

McDonald's Stock Performance

Shares of McDonald's stock traded up $7.39 during trading on Thursday, reaching $300.41. 2,815,830 shares of the company's stock were exchanged, compared to its average volume of 3,530,436. McDonald's Corporation has a 1-year low of $245.90 and a 1-year high of $326.32. The company has a market cap of $214.81 billion, a P/E ratio of 26.51, a PEG ratio of 3.04 and a beta of 0.53. The firm's 50-day moving average price is $304.66 and its 200 day moving average price is $302.39.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts' consensus estimates of $2.67. The company had revenue of $5.96 billion for 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%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $2.70 EPS. As a group, equities research analysts predict that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald's's dividend payout ratio (DPR) is presently 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.