McDonald's Corporation (NYSE:MCD) Shares Sold by Concord Wealth Partners

Concord Wealth Partners trimmed its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,176 shares of the fast-food giant's stock after selling 1,349 shares during the quarter. Concord Wealth Partners' holdings in McDonald's were worth $2,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. purchased a new position in shares of McDonald's during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new position in McDonald's during the fourth quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of McDonald's during the fourth quarter worth approximately $30,000. Abound Financial LLC bought a new stake in shares of McDonald's in the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management purchased a new stake in shares of McDonald's in the 4th quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCD. Citigroup lifted their price objective on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. BMO Capital Markets reiterated an "outperform" rating and issued a $345.00 price objective (up previously from $340.00) on shares of McDonald's in a report on Monday, May 5th. Truist Financial raised their target price on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. TD Securities reissued a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research note on Thursday, June 5th. Finally, Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $319.72.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the 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 sale, the insider directly owned 10,222 shares of the company's stock, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the 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 in the company, valued at $2,657,400. This trade 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 in the last three months. Insiders own 0.25% of the company's stock.

McDonald's Stock Down 1.2%

MCD traded down $3.50 during mid-day trading on Friday, reaching $296.87. 3,477,177 shares of the company traded hands, compared to its average volume of 3,527,889. The stock has a market capitalization of $212.27 billion, a P/E ratio of 26.20, a P/E/G ratio of 3.10 and a beta of 0.53. McDonald's Corporation has a 52-week low of $246.12 and a 52-week high of $326.32. The company's fifty day moving average price is $302.50 and its 200-day moving average price is $302.72.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period in the prior year, the business posted $2.70 EPS. McDonald's's revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

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.