Palumbo Wealth Management LLC Acquires 2,361 Shares of McDonald's Corporation (NYSE:MCD)

Palumbo Wealth Management LLC lifted its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 25.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,622 shares of the fast-food giant's stock after purchasing an additional 2,361 shares during the quarter. McDonald's accounts for 1.2% of Palumbo Wealth Management LLC's investment portfolio, making the stock its 21st largest holding. Palumbo Wealth Management LLC's holdings in McDonald's were worth $3,630,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Integral Investment Advisors Inc. raised its position in McDonald's by 2.6% in the 4th quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant's stock valued at $1,888,000 after buying an additional 164 shares during the last quarter. Aviva PLC raised its position in McDonald's by 5.6% in the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock valued at $125,350,000 after buying an additional 23,024 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in McDonald's by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock valued at $5,381,000 after buying an additional 3,212 shares during the last quarter. Great Waters Wealth Management purchased a new stake in McDonald's in the 1st quarter valued at $864,000. Finally, Segment Wealth Management LLC raised its position in McDonald's by 1.7% in the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock valued at $17,078,000 after buying an additional 937 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated 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 now owns 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 2,817 shares of company stock worth $865,843 in the last quarter. 0.25% of the stock is owned by company insiders.

McDonald's Trading Up 0.7%

Shares of MCD stock traded up $1.96 on Monday, hitting $289.42. 4,915,295 shares of the stock were exchanged, compared to its average volume of 3,515,886. The firm has a market capitalization of $206.94 billion, a PE ratio of 25.54, a P/E/G ratio of 3.00 and a beta of 0.56. McDonald's Corporation has a one year low of $243.53 and a one year high of $326.32. The firm's 50 day moving average is $310.02 and its two-hundred day moving average is $302.79.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. The company 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 firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 EPS. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.45%. McDonald's's dividend payout ratio is currently 62.49%.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. BMO Capital Markets reissued an "outperform" rating and issued a $345.00 price target (up from $340.00) on shares of McDonald's in a research report on Monday, May 5th. BTIG Research reissued a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. TD Securities reissued a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research report on Thursday, June 5th. Redburn Atlantic reissued a "sell" rating and issued a $260.00 price target (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Finally, Northcoast Research lowered McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $321.79.

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.