Easterly Investment Partners LLC Sells 932 Shares of McDonald's Corporation (NYSE:MCD)

Easterly Investment Partners LLC cut its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,365 shares of the fast-food giant's stock after selling 932 shares during the quarter. Easterly Investment Partners LLC's holdings in McDonald's were worth $2,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its holdings in McDonald's by 3.4% in the first quarter. Kingsview Wealth Management LLC now owns 60,229 shares of the fast-food giant's stock valued at $18,814,000 after acquiring an additional 1,997 shares in the last quarter. Frederick Financial Consultants LLC purchased a new position in McDonald's during the first quarter valued at $244,000. Woodward Diversified Capital LLC raised its position in shares of McDonald's by 8.1% in the 1st quarter. Woodward Diversified Capital LLC now owns 1,590 shares of the fast-food giant's stock worth $497,000 after purchasing an additional 119 shares during the last quarter. Graypoint LLC raised its position in shares of McDonald's by 24.9% in the 1st quarter. Graypoint LLC now owns 10,695 shares of the fast-food giant's stock worth $3,341,000 after purchasing an additional 2,133 shares during the last quarter. Finally, Ascent Wealth Partners LLC increased its holdings in McDonald's by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant's stock worth $3,620,000 after buying an additional 34 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MCD shares. TD Securities reaffirmed a "hold" rating and set a $305.00 price objective on shares of McDonald's in a report on Thursday, June 5th. Barclays lifted their target price on McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Citigroup lifted their target price on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Melius began coverage on McDonald's in a research report on Monday. They set a "sell" rating and a $250.00 price target for the company. Finally, Loop Capital cut McDonald's from a "buy" rating to a "hold" rating and dropped their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Two 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's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $319.48.

McDonald's Stock Performance

Shares of NYSE:MCD opened at $298.71 on Thursday. The stock has a fifty day moving average of $303.10 and a 200-day moving average of $302.60. The company has a market capitalization of $213.59 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. McDonald's Corporation has a one year low of $246.12 and a one year 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 earnings per share for the quarter, meeting the consensus estimate of $2.67. The company 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 business's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. As a group, research analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

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

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on 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 in the company, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The transaction 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 firm'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 sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $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. In the last three months, insiders sold 3,817 shares of company stock worth $1,165,843. 0.25% of the stock is currently owned by insiders.

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.

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