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

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after acquiring an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in McDonald's by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after acquiring an additional 52 shares during the period. Bank Pictet & Cie Europe AG increased its stake in McDonald's by 15.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock worth $60,722,000 after acquiring an additional 27,774 shares during the period. GHE LLC increased its stake in McDonald's by 0.9% during the 4th quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock worth $4,255,000 after acquiring an additional 136 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of McDonald's by 50.7% in the 4th quarter. Proficio Capital Partners LLC now owns 2,038 shares of the fast-food giant's stock valued at $591,000 after purchasing an additional 686 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 0.5%

McDonald's stock traded up $1.42 during midday trading on Wednesday, reaching $293.09. The stock had a trading volume of 1,101,027 shares, compared to its average volume of 3,528,767. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a market capitalization of $209.56 billion, a P/E ratio of 25.84, a PEG ratio of 3.06 and a beta of 0.53. The company has a fifty day moving average price of $305.18 and a two-hundred day moving average price of $302.45.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the company posted $2.70 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share 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 issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is currently 62.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MCD shares. Truist Financial raised their price objective on McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a report on Wednesday. Redburn Atlantic reissued a "sell" rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. BTIG Research reissued a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Barclays raised their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and cut their price objective for the company from $346.00 to $315.00 in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $321.42.

Insider Buying and Selling

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was 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 of the company's stock, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 2,817 shares of company stock worth $865,843. Insiders own 0.25% of the company's stock.

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.