Good Life Advisors LLC Sells 8,799 Shares of McDonald's Co. (NYSE:MCD)

Good Life Advisors LLC lessened its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 41.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,575 shares of the fast-food giant's stock after selling 8,799 shares during the period. Good Life Advisors LLC's holdings in McDonald's were worth $3,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of McDonald's by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after buying an additional 526,466 shares in the last quarter. Geode Capital Management LLC lifted its stake in McDonald's by 1.0% in the 4th 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 acquiring an additional 157,458 shares in the last quarter. Capital Research Global Investors boosted its position in McDonald's by 5.2% during the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock worth $3,088,037,000 after acquiring an additional 531,070 shares during the last quarter. Norges Bank bought a new position in shares of McDonald's during the 4th quarter worth approximately $2,725,190,000. Finally, Northern Trust Corp raised 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 during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Analysts Set New Price Targets

MCD has been the subject of several recent research reports. Northcoast Research cut shares of McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research note on Friday. Redburn Atlantic restated a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Barclays upped 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. Finally, Loop Capital cut McDonald's from a "buy" rating to a "hold" rating and reduced their price target for the company from $346.00 to $315.00 in a research report on Friday, June 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $321.79.

Insider Transactions at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares of the company's stock, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

McDonald's Stock Down 0.5%

McDonald's stock opened at $301.57 on Monday. The company's 50-day moving average price is $311.95 and its two-hundred day moving average price is $303.03. The stock has a market cap of $215.63 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald's Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

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

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald's's payout ratio is 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.

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