Dakota Wealth Management Decreases Position in McDonald's Corporation (NYSE:MCD)

Dakota Wealth Management cut its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,816 shares of the fast-food giant's stock after selling 2,614 shares during the quarter. Dakota Wealth Management's holdings in McDonald's were worth $10,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MCD. Apollon Financial LLC grew its position in McDonald's by 6.5% in the 1st quarter. Apollon Financial LLC now owns 1,297 shares of the fast-food giant's stock valued at $405,000 after acquiring an additional 79 shares in the last quarter. Apollon Wealth Management LLC grew its position in McDonald's by 6.9% in the 1st quarter. Apollon Wealth Management LLC now owns 53,199 shares of the fast-food giant's stock valued at $16,618,000 after acquiring an additional 3,428 shares in the last quarter. Sigma Planning Corp grew its position in McDonald's by 1.7% in the 1st quarter. Sigma Planning Corp now owns 19,580 shares of the fast-food giant's stock valued at $6,116,000 after acquiring an additional 321 shares in the last quarter. Catalyst Financial Partners LLC grew its position in McDonald's by 5.1% in the 1st quarter. Catalyst Financial Partners LLC now owns 3,729 shares of the fast-food giant's stock valued at $1,165,000 after acquiring an additional 181 shares in the last quarter. Finally, Signaturefd LLC grew its position in McDonald's by 2.1% in the 1st quarter. Signaturefd LLC now owns 17,510 shares of the fast-food giant's stock valued at $5,470,000 after acquiring an additional 364 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the transaction, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,817 shares of company stock worth $1,165,843 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MCD shares. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Truist Financial lifted their price objective on McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Redburn Atlantic reiterated a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Finally, Melius started coverage on McDonald's in a research note on Monday. They issued a "sell" rating and a $250.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald's currently has a consensus rating of "Hold" and an average price target of $319.48.

McDonald's Price Performance

Shares of NYSE:MCD traded up $0.57 during trading on Thursday, reaching $299.47. The company had a trading volume of 1,449,894 shares, compared to its average volume of 3,522,267. The firm has a market capitalization of $214.13 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. The stock's fifty day moving average price is $303.10 and its 200 day moving average price is $302.60. McDonald's Corporation has a fifty-two week low of $246.12 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 earnings per share. On average, equities analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal 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 dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is presently 62.49%.

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.