McDonald's Co. (NYSE:MCD) Shares Sold by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. cut its position in McDonald's Co. (NYSE:MCD - Free Report) by 6.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,204 shares of the fast-food giant's stock after selling 1,697 shares during the period. Campbell Newman Asset Management Inc.'s holdings in McDonald's were worth $7,248,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Farmers & Merchants Investments Inc. increased its holdings in shares of McDonald's by 0.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 72,072 shares of the fast-food giant's stock valued at $22,513,000 after purchasing an additional 674 shares during the period. Tritonpoint Wealth LLC increased its holdings in shares of McDonald's by 0.5% in the first quarter. Tritonpoint Wealth LLC now owns 10,332 shares of the fast-food giant's stock valued at $3,227,000 after purchasing an additional 49 shares during the period. RTD Financial Advisors Inc. increased its holdings in shares of McDonald's by 5.5% in the first quarter. RTD Financial Advisors Inc. now owns 1,100 shares of the fast-food giant's stock valued at $344,000 after purchasing an additional 57 shares during the period. CVA Family Office LLC increased its holdings in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the period. Finally, Powers Advisory Group LLC increased its holdings in shares of McDonald's by 1.9% in the first quarter. Powers Advisory Group LLC now owns 6,446 shares of the fast-food giant's stock valued at $2,014,000 after purchasing an additional 122 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. Robert W. Baird raised their target price on McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Loop Capital lowered McDonald's from a "buy" rating to a "hold" rating and dropped their target price for the stock from $346.00 to $315.00 in a report on Friday, June 6th. KeyCorp raised their target price on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Truist Financial set a $350.00 target price on McDonald's in a report on Friday, May 2nd. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $324.00 target price (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. One 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 stock presently has a consensus rating of "Hold" and an average price target of $321.79.

McDonald's Stock Performance

Shares of NYSE:MCD traded down $1.59 during trading on Friday, reaching $301.57. The stock had a trading volume of 2,424,707 shares, compared to its average volume of 3,506,984. The business has a fifty day moving average price of $311.95 and a 200-day moving average price of $302.97. The stock has a market cap of $215.63 billion, a PE ratio of 26.48, a PEG ratio of 3.10 and a beta of 0.56. McDonald's Co. has a 1-year low of $243.53 and a 1-year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.67. The firm 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 business's revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.70 earnings per share. Sell-side analysts expect that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now owns 11,161 shares of the company's stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate 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.