Meyer Handelman Co. Cuts Position in McDonald's Co. (NYSE:MCD)

Meyer Handelman Co. lessened its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,576 shares of the fast-food giant's stock after selling 2,019 shares during the quarter. Meyer Handelman Co.'s holdings in McDonald's were worth $32,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Northeast Financial Consultants Inc increased its holdings in McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after purchasing an additional 34 shares in the last quarter. Pettee Investors Inc. increased its holdings in McDonald's by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock worth $1,566,000 after buying an additional 35 shares during the last quarter. Covestor Ltd lifted its stake in McDonald's by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock valued at $261,000 after purchasing an additional 35 shares during the last quarter. Blue Barn Wealth LLC raised its holdings in McDonald's by 4.3% during the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant's stock valued at $252,000 after acquiring an additional 36 shares during the period. Finally, Diligent Investors LLC grew its position in shares of McDonald's by 0.8% during the 4th quarter. Diligent Investors LLC now owns 4,746 shares of the fast-food giant's stock valued at $1,376,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. 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. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Morgan Stanley decreased their price objective on McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. BMO Capital Markets reaffirmed an "outperform" rating and set a $345.00 price target (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Finally, Citigroup increased their price objective on shares of McDonald's from $353.00 to $364.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $325.91.

McDonald's Price Performance

Shares of NYSE:MCD traded down $0.69 during trading on Monday, hitting $313.16. 2,576,423 shares of the company were exchanged, compared to its average volume of 3,512,150. The firm's 50 day moving average price is $312.40 and its 200-day moving average price is $302.06. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The stock has a market capitalization of $223.92 billion, a P/E ratio of 27.49, a PEG ratio of 3.10 and a beta of 0.57.

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, meeting the consensus estimate of $2.67. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the prior year, the firm earned $2.70 EPS. McDonald's's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that McDonald's Co. will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.26%. McDonald's's dividend payout ratio (DPR) is 62.49%.

Insider Activity at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.

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.