Raleigh Capital Management Inc. Sells 1,858 Shares of McDonald's Corporation (NYSE:MCD)

Raleigh Capital Management Inc. lessened its position in McDonald's Corporation (NYSE:MCD - Free Report) by 51.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,785 shares of the fast-food giant's stock after selling 1,858 shares during the period. Raleigh Capital Management Inc.'s holdings in McDonald's were worth $558,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Granite Bay Wealth Management LLC boosted its position in shares of McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after buying an additional 33 shares during the period. CVA Family Office LLC grew its stake in shares of 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 valued at $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC grew its stake in shares of 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 valued at $417,000 after buying an additional 33 shares in the last quarter. Northeast Financial Consultants Inc grew its stake in shares of 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 valued at $2,170,000 after buying an additional 34 shares in the last quarter. Finally, Tealwood Asset Management Inc. grew its stake in shares of McDonald's by 0.4% in 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 buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Trading Down 0.6%

NYSE MCD traded down $1.83 during trading on Tuesday, hitting $291.70. 3,121,892 shares of the company traded hands, compared to its average volume of 3,538,252. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The business has a fifty day simple moving average of $305.64 and a 200 day simple moving average of $302.53. The company has a market capitalization of $208.57 billion, a P/E ratio of 25.75, a PEG ratio of 3.06 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the company earned $2.70 earnings per share. The business's revenue was down 3.5% compared to the same quarter last year. Equities research analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.43%. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCD. Truist Financial set a $350.00 price target on McDonald's in a report on Friday, May 2nd. Barclays increased their price target on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. TD Securities reissued a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Redburn Atlantic reissued a "sell" rating and set a $260.00 price objective (down from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $345.00 price objective (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $321.17.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald'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 transaction, the insider directly owned 10,222 shares in the company, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 2,817 shares of company stock worth $865,843 in the last 90 days. 0.25% of the stock is owned by company insiders.

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.