LaFleur & Godfrey LLC Lowers Holdings in McDonald's Corporation (NYSE:MCD)

LaFleur & Godfrey LLC decreased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 31.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,177 shares of the fast-food giant's stock after selling 5,169 shares during the quarter. LaFleur & Godfrey LLC's holdings in McDonald's were worth $3,491,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCD. Norges Bank purchased a new stake in McDonald's in the fourth quarter valued at approximately $2,725,190,000. GAMMA Investing LLC increased its stake in shares of McDonald's by 39,039.7% in the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock worth $1,092,645,000 after acquiring an additional 3,488,982 shares during the period. Raymond James Financial Inc. purchased a new position in shares of McDonald's during the 4th quarter valued at about $703,074,000. Castlekeep Investment Advisors LLC purchased a new position in McDonald's during the fourth quarter valued at approximately $350,935,000. Finally, Northern Trust Corp boosted its position in McDonald's by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after purchasing an additional 895,896 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Redburn Atlantic restated a "sell" rating and set a $260.00 price objective (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. BTIG Research reissued a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Truist Financial set a $350.00 price objective on McDonald's in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, McDonald's has an average rating of "Hold" and an average price target of $321.79.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction 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 completion of the sale, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is currently owned by insiders.

McDonald's Stock Performance

Shares of NYSE:MCD traded up $1.98 on Tuesday, hitting $291.50. 4,459,882 shares of the company's stock were exchanged, compared to its average volume of 3,519,648. McDonald's Corporation has a 1-year low of $243.53 and a 1-year high of $326.32. The company has a market capitalization of $208.43 billion, a PE ratio of 25.73, a P/E/G ratio of 3.00 and a beta of 0.56. The firm's 50-day moving average is $310.02 and its 200 day moving average is $302.79.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly 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 company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.70 earnings per share. On average, analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 annualized dividend and a yield of 2.43%. McDonald's's dividend payout ratio is presently 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.