Bridges Investment Management Inc. Reduces Stake in McDonald's Corporation (NYSE:MCD)

Bridges Investment Management Inc. lessened its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,010 shares of the fast-food giant's stock after selling 1,704 shares during the period. Bridges Investment Management Inc.'s holdings in McDonald's were worth $30,615,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MCD. Red Door Wealth Management LLC lifted its holdings in McDonald's by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after buying an additional 109 shares during the period. Aviva PLC lifted its holdings in McDonald's by 5.6% in the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock valued at $125,350,000 after buying an additional 23,024 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in McDonald's by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after buying an additional 18,393 shares during the period. Sagespring Wealth Partners LLC lifted its holdings in McDonald's by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock valued at $5,381,000 after buying an additional 3,212 shares during the period. Finally, Segment Wealth Management LLC lifted its holdings in McDonald's by 1.7% in the first quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock valued at $17,078,000 after buying an additional 937 shares during the period. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider directly owned 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock valued at $1,165,843 over the last ninety days. 0.25% of the stock is currently owned by insiders.

McDonald's Price Performance

Shares of NYSE:MCD traded up $5.58 during midday trading on Thursday, hitting $298.60. 5,364,588 shares of the company's stock were exchanged, compared to its average volume of 3,536,694. The stock has a 50 day moving average price of $304.35 and a 200-day moving average price of $302.44. The company has a market cap of $213.51 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 3.06 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 posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MCD shares. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a report on Thursday. KeyCorp dropped their target price 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. Citigroup boosted their target price on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley reiterated an "equal weight" rating and set a $324.00 price objective (down previously from $329.00) on shares of McDonald's in a report on Monday, June 9th. Finally, Truist Financial upped their price objective on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, McDonald's has an average rating of "Hold" and an average target price of $322.29.

McDonald's 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.