McDonald's Corporation (NYSE:MCD) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC reduced its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 23.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,462 shares of the fast-food giant's stock after selling 2,969 shares during the quarter. Tyche Wealth Partners LLC's holdings in McDonald's were worth $2,956,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's in the 4th quarter worth approximately $25,000. Atala Financial Inc bought a new position in McDonald's during the fourth quarter worth $26,000. Pinney & Scofield Inc. bought a new stake in McDonald's in the 4th quarter valued at $29,000. Fairway Wealth LLC grew its holdings in shares of McDonald's by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in McDonald's during the 4th quarter worth about $30,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the company'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 completion of the sale, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 2,817 shares of company stock worth $865,843. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp increased their price target on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Truist Financial set a $350.00 price target on McDonald's in a report on Friday, May 2nd. Citigroup lifted their target price on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. TD Securities reaffirmed a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Finally, Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $321.79.

McDonald's Stock Up 0.7%

Shares of NYSE:MCD opened at $291.50 on Wednesday. McDonald's Corporation has a twelve month low of $243.53 and a twelve month high of $326.32. The stock's 50 day moving average is $309.60 and its 200-day moving average is $302.72. The firm has a market capitalization of $208.43 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.02 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the prior year, the firm earned $2.70 earnings per share. McDonald's's revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.43%. McDonald's's dividend payout ratio (DPR) is currently 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.

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