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Bleakley Financial Group LLC Purchases 1,234 Shares of McDonald's Corporation (NYSE:MCD)

McDonald's logo with Retail/Wholesale background

Bleakley Financial Group LLC lifted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,653 shares of the fast-food giant's stock after purchasing an additional 1,234 shares during the quarter. Bleakley Financial Group LLC's holdings in McDonald's were worth $6,764,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MCD. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's during the fourth quarter worth about $25,000. Atala Financial Inc bought a new stake in McDonald's in the 4th quarter valued at approximately $26,000. Abound Financial LLC bought a new stake in McDonald's in the 1st quarter valued at approximately $30,000. Pinney & Scofield Inc. acquired a new position in McDonald's during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald's during the 1st quarter worth approximately $31,000. Institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,817 shares of company stock valued at $1,165,843. 0.25% of the stock is owned by company insiders.

McDonald's Trading Up 0.6%

MCD stock traded up $1.95 during trading hours on Monday, hitting $301.86. 5,695,802 shares of the stock were exchanged, compared to its average volume of 3,642,180. McDonald's Corporation has a 12 month low of $246.12 and a 12 month high of $326.32. The firm has a market capitalization of $215.84 billion, a P/E ratio of 26.64, a P/E/G ratio of 3.13 and a beta of 0.53. The company has a 50-day simple moving average of $304.11 and a two-hundred day simple moving average of $302.59.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting 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 business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the firm earned $2.70 earnings per share. McDonald's's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 dividend yield of 2.35%. McDonald's's dividend payout ratio is presently 62.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MCD shares. Morgan Stanley boosted their price objective on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday. Piper Sandler boosted their price target on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Redburn Atlantic restated a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and lowered their target price for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. 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 presently has an average rating of "Hold" and a consensus price target of $319.48.

Get Our Latest Analysis on McDonald's

McDonald's Company Profile

(Free Report)

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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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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