Burney Co. Sells 2,509 Shares of McDonald's Corporation (NYSE:MCD)

Burney Co. cut its position in McDonald's Corporation (NYSE:MCD - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,999 shares of the fast-food giant's stock after selling 2,509 shares during the quarter. Burney Co.'s holdings in McDonald's were worth $6,559,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCD. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's during the 4th quarter worth about $25,000. Abound Financial LLC bought a new stake in shares of McDonald's during the 1st quarter worth about $30,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald's during the 4th quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of McDonald's in the 1st quarter worth approximately $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of McDonald's in the 1st quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors.

McDonald's Trading Up 1.3%

Shares of NYSE:MCD traded up $3.77 during mid-day trading on Friday, reaching $298.25. The stock had a trading volume of 3,400,107 shares, compared to its average volume of 3,682,701. The firm has a market cap of $213.26 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53. The firm has a 50 day simple moving average of $301.00 and a two-hundred day simple moving average of $302.91. McDonald's Corporation has a twelve month low of $250.23 and a twelve month high of $326.32.

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

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,817 shares of company stock valued at $1,147,992. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCD. Piper Sandler lifted their price objective on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Robert W. Baird lifted their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. TD Securities reissued a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research report on Thursday, June 5th. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Finally, Barclays lifted their target price on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $322.00.

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.