Davis Rea LTD. Has $6.91 Million Stock Position in McDonald's Corporation (NYSE:MCD)

Davis Rea LTD. boosted its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 204.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,131 shares of the fast-food giant's stock after purchasing an additional 14,866 shares during the quarter. McDonald's makes up about 1.8% of Davis Rea LTD.'s investment portfolio, making the stock its 15th largest holding. Davis Rea LTD.'s holdings in McDonald's were worth $6,913,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. acquired a new stake in McDonald's in the fourth quarter worth about $25,000. Abound Financial LLC acquired a new stake in McDonald's in the first quarter worth about $30,000. Pinney & Scofield Inc. acquired a new stake in McDonald's in the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new stake in McDonald's in the first quarter worth about $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald's in the first quarter worth about $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MCD shares. BTIG Research reissued a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. KeyCorp dropped their price objective on McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Piper Sandler raised their target price on McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Loop Capital cut McDonald's from a "buy" rating to a "hold" rating and cut their price objective for the company from $346.00 to $315.00 in a report on Friday, June 6th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $322.00.

McDonald's Price Performance

Shares of MCD stock traded up $3.77 on Friday, hitting $298.25. 3,400,107 shares of the company's stock were exchanged, compared to its average volume of 3,682,701. McDonald's Corporation has a 12 month low of $250.23 and a 12 month high of $326.32. The stock has a market cap of $213.26 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53. The company has a 50 day moving average of $301.00 and a 200 day moving average of $302.91.

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, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company earned $2.70 earnings per share. Sell-side analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald's's dividend payout ratio is presently 62.49%.

Insider Activity

In other news, 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 value of $300,000.00. Following the completion of the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,817 shares of company stock valued at $1,147,992 over the last quarter. Corporate insiders own 0.25% of the company's stock.

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.