Navellier & Associates Inc. Decreases Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• Navellier & Associates Inc. reduced its stake in McDonald's by 16.6%, owning 5,045 shares after selling 1,005 shares in the first quarter.
• McDonald's stock has been given a consensus rating of "Hold" by analysts, with a price target adjustment ranging from $260.00 to $365.00.
• The company announced a quarterly dividend of $1.77 per share, scheduled to be paid on September 16th, representing an annualized dividend yield of 2.37%.

Navellier & Associates Inc. lowered its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 16.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,045 shares of the fast-food giant's stock after selling 1,005 shares during the quarter. Navellier & Associates Inc.'s holdings in McDonald's were worth $1,593,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Granite Bay Wealth Management LLC raised its position in shares of McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after buying an additional 33 shares during the last quarter. CVA Family Office LLC increased its position in McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC increased its position in McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after purchasing an additional 33 shares during the last quarter. Northeast Financial Consultants Inc increased its position 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 during the last quarter. Finally, Tealwood Asset Management Inc. increased its position in McDonald's by 0.4% during the first quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock valued at $2,535,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

MCD has been the subject of a number of recent analyst reports. Bank of America lowered their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Piper Sandler increased their price target on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Citigroup upped their price objective on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned 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 $322.00.

McDonald's Stock Up 1.3%

Shares of MCD traded up $3.77 during midday trading on Friday, reaching $298.25. The company had a trading volume of 3,400,107 shares, compared to its average volume of 3,682,701. The firm has a 50 day simple moving average of $301.00 and a 200-day simple moving average of $302.91. The stock has a market cap of $213.26 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53. McDonald's Corporation has a 1-year low of $250.23 and a 1-year high of $326.32.

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

McDonald's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 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 2.37%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is 62.49%.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock valued at $1,147,992 over the last three months. Corporate insiders own 0.25% of the company's stock.

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.