Perigon Wealth Management LLC Trims Holdings in McDonald's Corporation (NYSE:MCD)

Perigon Wealth Management LLC trimmed its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,858 shares of the fast-food giant's stock after selling 1,407 shares during the period. Perigon Wealth Management LLC's holdings in McDonald's were worth $19,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mascagni Wealth Management Inc. acquired a new stake in McDonald's in the fourth quarter valued at approximately $25,000. Atala Financial Inc purchased a new position in shares of McDonald's in the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new position in shares of McDonald's in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC lifted its position in shares of McDonald's by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of McDonald's in the fourth quarter valued at approximately $30,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCD. TD Securities restated a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research report on Thursday, June 5th. BMO Capital Markets restated an "outperform" rating and issued a $345.00 target price (up previously from $340.00) on shares of McDonald's in a research report on Monday, May 5th. Morgan Stanley restated an "equal weight" rating and issued a $324.00 target price (down previously from $329.00) on shares of McDonald's in a research report on Monday, June 9th. Northcoast Research downgraded McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Finally, Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $321.79.

Insider Buying and Selling at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now directly owns 11,161 shares of the company's stock, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,817 shares of company stock valued at $865,843 in the last ninety days. Insiders own 0.25% of the company's stock.

McDonald's Stock Down 2.0%

MCD opened at $285.78 on Thursday. The business has a 50 day moving average price of $309.13 and a two-hundred day moving average price of $302.60. The company has a market cap of $204.34 billion, a PE ratio of 25.22, a P/E/G ratio of 3.04 and a beta of 0.56. McDonald's Corporation has a 52 week low of $243.53 and a 52 week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate 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 firm's revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 EPS. As a group, sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.48%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is presently 62.49%.

McDonald's 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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