MainStreet Investment Advisors LLC Sells 1,448 Shares of McDonald's Corporation (NYSE:MCD)

MainStreet Investment Advisors LLC lessened its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,479 shares of the fast-food giant's stock after selling 1,448 shares during the quarter. McDonald's comprises 1.6% of MainStreet Investment Advisors LLC's investment portfolio, making the stock its 20th biggest holding. MainStreet Investment Advisors LLC's holdings in McDonald's were worth $10,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rogco LP increased its stake in McDonald's by 3.4% during the 1st quarter. Rogco LP now owns 4,228 shares of the fast-food giant's stock valued at $1,321,000 after purchasing an additional 140 shares in the last quarter. Main Street Research LLC increased its position in shares of McDonald's by 0.3% during the first quarter. Main Street Research LLC now owns 19,679 shares of the fast-food giant's stock worth $6,147,000 after acquiring an additional 61 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in shares of McDonald's by 0.6% in the 1st quarter. Banque Pictet & Cie SA now owns 1,639,705 shares of the fast-food giant's stock worth $512,195,000 after acquiring an additional 10,420 shares during the last quarter. LBP AM SA bought a new position in McDonald's in the 1st quarter valued at about $3,667,000. Finally, Twelve Points Wealth Management LLC lifted its position in McDonald's by 3.4% in the 1st quarter. Twelve Points Wealth Management LLC now owns 3,669 shares of the fast-food giant's stock valued at $1,146,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCD. Morgan Stanley reissued an "equal weight" rating and issued a $324.00 price objective (down from $329.00) on shares of McDonald's in a research note on Monday, June 9th. BMO Capital Markets restated an "outperform" rating and set a $345.00 price objective (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Loop Capital downgraded shares of McDonald's from a "buy" rating to a "hold" rating and cut their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Barclays upped their target price on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Truist Financial raised their price target on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, McDonald's has an average rating of "Hold" and a consensus price target of $322.29.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company's 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 transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the transaction, the insider owned 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% 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 valued at $1,165,843. Corporate insiders own 0.25% of the company's stock.

McDonald's Trading Up 1.9%

Shares of MCD traded up $5.58 during mid-day trading on Thursday, reaching $298.60. 5,364,588 shares of the stock traded hands, compared to its average volume of 3,536,694. The company has a market cap of $213.51 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The firm has a fifty day moving average price of $304.66 and a 200 day moving average price of $302.39.

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, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm's revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 earnings per share. On average, sell-side analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald's's payout ratio is presently 62.49%.

About McDonald's

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.