Mitchell Mcleod Pugh & Williams Inc. Sells 1,041 Shares of McDonald's Corporation (NYSE:MCD)

Mitchell Mcleod Pugh & Williams Inc. reduced its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 22.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,637 shares of the fast-food giant's stock after selling 1,041 shares during the period. Mitchell Mcleod Pugh & Williams Inc.'s holdings in McDonald's were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC lifted its holdings in shares of McDonald's by 90.7% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 35,529 shares of the fast-food giant's stock worth $11,098,000 after acquiring an additional 16,902 shares during the last quarter. Florida Financial Advisors LLC lifted its holdings in shares of McDonald's by 5.3% during the 1st quarter. Florida Financial Advisors LLC now owns 1,576 shares of the fast-food giant's stock worth $492,000 after acquiring an additional 79 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of McDonald's by 6.0% during the 1st quarter. Bleakley Financial Group LLC now owns 21,653 shares of the fast-food giant's stock worth $6,764,000 after acquiring an additional 1,234 shares during the last quarter. Zullo Investment Group Inc. lifted its holdings in shares of McDonald's by 2.1% during the 1st quarter. Zullo Investment Group Inc. now owns 6,449 shares of the fast-food giant's stock worth $2,015,000 after acquiring an additional 133 shares during the last quarter. Finally, Isthmus Partners LLC lifted its holdings in shares of McDonald's by 0.6% during the 1st quarter. Isthmus Partners LLC now owns 52,771 shares of the fast-food giant's stock worth $16,484,000 after acquiring an additional 291 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,817 shares of company stock worth $1,165,843 in the last quarter. 0.25% of the stock is owned by corporate insiders.

McDonald's Price Performance

Shares of NYSE MCD opened at $299.80 on Monday. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The company's 50-day moving average is $304.11 and its 200 day moving average is $302.59. The stock has a market capitalization of $214.37 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.13 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the previous year, the company earned $2.70 earnings per share. McDonald's's quarterly revenue was down 3.5% on a year-over-year basis. Research analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current 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 given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is currently 62.49%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MCD shares. 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 report 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. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Citigroup lifted their target price on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, McDonald's presently has a consensus rating of "Hold" and a consensus price target of $322.29.

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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