Miracle Mile Advisors LLC Reduces Stock Holdings in McDonald's Co. (NYSE:MCD)

Miracle Mile Advisors LLC lessened its stake in McDonald's Co. (NYSE:MCD - Free Report) by 23.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,356 shares of the fast-food giant's stock after selling 18,994 shares during the period. Miracle Mile Advisors LLC's holdings in McDonald's were worth $19,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCD. Brighton Jones LLC boosted its stake in McDonald's by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after purchasing an additional 1,649 shares during the period. Union Bancaire Privee UBP SA bought a new stake in McDonald's in the 4th quarter valued at $64,805,000. Revolve Wealth Partners LLC lifted its position in McDonald's by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after purchasing an additional 52 shares during the period. Silver Oak Securities Incorporated lifted its stake in McDonald's by 21.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,273 shares of the fast-food giant's stock worth $658,000 after purchasing an additional 407 shares during the period. Finally, Consolidated Portfolio Review Corp bought a new position in McDonald's during the 4th quarter valued at about $446,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of McDonald's from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. TD Securities reaffirmed a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research note on Thursday. Citigroup increased their target price on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. KeyCorp increased their target price on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Thirteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $324.96.

McDonald's Stock Down 0.5%

Shares of McDonald's stock opened at $307.44 on Friday. The firm's 50 day moving average price is $312.29 and its 200-day moving average price is $302.66. McDonald's Co. has a 52-week low of $243.53 and a 52-week high of $326.32. The company has a market cap of $219.83 billion, a P/E ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the company posted $2.70 EPS. McDonald's's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the sale, the insider now owns 12,100 shares in the company, valued at $3,853,850. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company's stock.

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.

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