McDonald's Co. (NYSE:MCD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360,778 shares of the fast-food giant's stock after selling 14,268 shares during the quarter. Rhumbline Advisers owned 0.19% of McDonald's worth $425,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aletheian Wealth Advisors LLC bought a new position in shares of McDonald's during the 1st quarter valued at approximately $282,000. Bowman & Co S.C. bought a new position in shares of McDonald's during the 1st quarter valued at approximately $203,000. Fifth Third Wealth Advisors LLC raised its holdings in McDonald's by 6.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 25,317 shares of the fast-food giant's stock valued at $7,908,000 after buying an additional 1,548 shares during the period. IVC Wealth Advisors LLC lifted its position in McDonald's by 1.3% in the first quarter. IVC Wealth Advisors LLC now owns 4,387 shares of the fast-food giant's stock worth $1,370,000 after buying an additional 58 shares during the last quarter. Finally, Stolper Co increased its position in McDonald's by 0.6% during the first quarter. Stolper Co now owns 7,032 shares of the fast-food giant's stock valued at $2,197,000 after acquiring an additional 44 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Barclays boosted their price objective 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. Truist Financial set a $350.00 price objective on McDonald's in a research report on Friday, May 2nd. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley lowered their price target on shares of McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $326.13.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total value of $299,071.50. Following the sale, the insider now directly owns 12,100 shares in the company, valued at approximately $3,853,850. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.

McDonald's Stock Performance

Shares of MCD stock traded down $2.70 on Thursday, reaching $308.87. 1,393,047 shares of the company were exchanged, compared to its average volume of 3,488,855. McDonald's Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The business has a 50-day moving average price of $312.49 and a 200 day moving average price of $302.34. The company has a market cap of $220.85 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 3.10 and a beta of 0.56.

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. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the company posted $2.70 earnings per share. The business's revenue was down 3.5% on a year-over-year basis. As a group, equities analysts anticipate that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald's's payout ratio is currently 62.49%.

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.