14,666 Shares in McDonald's Corporation (NYSE:MCD) Purchased by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC purchased 14,666 shares of McDonald's Corporation (NYSE:MCD), valued at approximately $4.5 million, during the first quarter.
• Insider sales included Joseph M. Erlinger and EVP Desiree Ralls-Morrison, who both reduced their holdings, highlighting potential shifts in insider confidence.
• McDonald's reported a $3.19 EPS for the latest quarter, exceeding estimates, and announced a quarterly dividend of $1.77, with a dividend yield of 2.3%.

CCM Investment Group LLC bought a new stake in McDonald's Corporation (NYSE:MCD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,666 shares of the fast-food giant's stock, valued at approximately $4,504,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Red Door Wealth Management LLC increased its stake in shares of 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 worth $1,788,000 after purchasing an additional 109 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 worth $107,867,000 after purchasing an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC increased its stake in shares of 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 worth $5,381,000 after purchasing an additional 3,212 shares in the last quarter. Segment Wealth Management LLC increased its stake in shares of 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 worth $17,078,000 after purchasing an additional 937 shares in the last quarter. Finally, Great Waters Wealth Management purchased a new position in shares of McDonald's in the first quarter worth about $864,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCD. Morgan Stanley boosted their price objective on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. KeyCorp reaffirmed an "overweight" rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and reduced their price objective for the company from $346.00 to $315.00 in a research note on Friday, June 6th. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Finally, Piper Sandler boosted their price objective on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $326.87.

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at approximately $2,657,400. The trade was a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,280 shares of company stock valued at $2,215,178. 0.25% of the stock is currently owned by company insiders.

McDonald's Trading Down 0.9%

Shares of MCD traded down $2.73 during mid-day trading on Tuesday, reaching $301.63. The company's stock had a trading volume of 3,438,206 shares, compared to its average volume of 3,433,888. The stock has a market cap of $215.24 billion, a PE ratio of 25.85, a P/E/G ratio of 3.11 and a beta of 0.52. McDonald's Corporation has a 52 week low of $267.54 and a 52 week high of $326.32. The company's fifty day moving average price is $298.17 and its two-hundred day moving average price is $304.74.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the business posted $2.97 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is presently 60.67%.

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.