McDonald's Corporation (NYSE:MCD) Shares Acquired by Graypoint LLC

Graypoint LLC grew its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 24.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,695 shares of the fast-food giant's stock after purchasing an additional 2,133 shares during the period. Graypoint LLC's holdings in McDonald's were worth $3,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCD. Mascagni Wealth Management Inc. acquired a new position in McDonald's during the fourth quarter worth $25,000. Abound Financial LLC bought a new stake in shares of McDonald's in the first quarter valued at about $30,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald's in the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of McDonald's in the first quarter valued at about $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald's in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

MCD stock traded down $3.50 during midday trading on Friday, reaching $296.87. The company had a trading volume of 3,477,177 shares, compared to its average volume of 3,528,220. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The company has a market capitalization of $212.27 billion, a P/E ratio of 26.20, a P/E/G ratio of 3.07 and a beta of 0.53. The firm has a 50-day moving average price of $302.50 and a 200-day moving average price of $302.81.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period in the prior year, the business posted $2.70 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. On average, equities analysts predict that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. McDonald's's payout ratio is 62.49%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCD. Melius began coverage on shares of McDonald's in a research note on Monday, July 14th. They set a "sell" rating and a $250.00 price target for the company. Bank of America cut their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday. Piper Sandler lifted their target price on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Citigroup lifted their target price on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Barclays lifted their target price on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued 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 target price of $319.72.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock worth $1,165,843 over the last three months. 0.25% of the stock is currently owned by 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.