Patton Albertson Miller Group LLC Decreases Stock Position in McDonald's Corporation (NYSE:MCD)

Patton Albertson Miller Group LLC cut its position in McDonald's Corporation (NYSE:MCD - Free Report) by 16.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,721 shares of the fast-food giant's stock after selling 943 shares during the quarter. Patton Albertson Miller Group LLC's holdings in McDonald's were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MCD. Vanguard Group Inc. grew its stake in McDonald's by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock valued at $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC boosted its stake in McDonald's by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock valued at $4,652,768,000 after acquiring an additional 157,458 shares during the last quarter. Capital Research Global Investors boosted its stake in McDonald's by 5.2% during the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock valued at $3,088,037,000 after acquiring an additional 531,070 shares during the last quarter. Norges Bank bought a new position in McDonald's during the 4th quarter valued at $2,725,190,000. Finally, Northern Trust Corp boosted its stake in McDonald's by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after acquiring an additional 895,896 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCD. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Redburn Atlantic restated 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. Citigroup raised their price target 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. Truist Financial raised their price target on shares of McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Loop Capital downgraded shares of McDonald's from a "buy" rating to a "hold" rating and reduced their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $319.48.

McDonald's Trading Up 0.5%

Shares of MCD stock opened at $300.26 on Friday. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The firm's fifty day simple moving average is $302.83 and its 200 day simple moving average is $302.68. The firm has a market capitalization of $214.70 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results 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. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the previous year, the firm posted $2.70 earnings per share. McDonald's's revenue was down 3.5% compared to the same quarter last year. Equities research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Insider Buying and Selling at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock worth $1,165,843 in the last three months. 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.

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