McDonald's Co. (NYSE:MCD) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC reduced its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 38.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,591 shares of the fast-food giant's stock after selling 1,623 shares during the quarter. Fortitude Family Office LLC's holdings in McDonald's were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of McDonald's by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock valued at $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McDonald's by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock valued at $4,652,768,000 after purchasing an additional 157,458 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of McDonald's by 5.2% in the fourth quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock valued at $3,088,037,000 after purchasing an additional 531,070 shares in the last quarter. Norges Bank purchased a new position in shares of McDonald's in the fourth quarter valued at $2,725,190,000. Finally, Northern Trust Corp grew its holdings in shares of McDonald's by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after purchasing an additional 895,896 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCD has been the subject of a number of recent research reports. Piper Sandler raised their target price on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Truist Financial set a $350.00 price target on McDonald's in a research report on Friday, May 2nd. Redburn Atlantic restated a "sell" rating and issued a $260.00 price target (down from $319.00) on shares of McDonald's in a research report on Tuesday. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, KeyCorp raised their price target on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. One analyst has 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, McDonald's currently has a consensus rating of "Hold" and a consensus target price of $321.79.

McDonald's Stock Up 0.4%

NYSE:MCD traded up $1.21 during mid-day trading on Thursday, reaching $302.93. The company's stock had a trading volume of 2,581,660 shares, compared to its average volume of 3,507,059. McDonald's Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The stock has a fifty day moving average of $311.84 and a 200-day moving average of $302.83. The firm has a market capitalization of $216.60 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The company 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 firm earned $2.70 earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts expect that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

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.