Riverbend Wealth Management LLC Has $263,000 Stake in McDonald's Corporation (NYSE:MCD)

Riverbend Wealth Management LLC lessened its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 53.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 843 shares of the fast-food giant's stock after selling 955 shares during the period. Riverbend Wealth Management LLC's holdings in McDonald's were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCD. Brighton Jones LLC raised its holdings in McDonald's by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after acquiring an additional 1,649 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of McDonald's by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after purchasing an additional 52 shares during the period. Bank Pictet & Cie Europe AG increased its stake in McDonald's by 15.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after acquiring an additional 27,774 shares during the last quarter. GHE LLC increased its stake in McDonald's by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock valued at $4,255,000 after acquiring an additional 136 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its stake in McDonald's by 4.3% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 20,282 shares of the fast-food giant's stock valued at $5,880,000 after acquiring an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCD. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Citigroup upped their target price on McDonald's from $353.00 to $364.00 and gave the company a "buy" rating in a report on Friday, May 2nd. KeyCorp increased their price objective on McDonald's from $335.00 to $340.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Morgan Stanley reissued an "equal weight" rating and issued a $324.00 target price (down from $329.00) on shares of McDonald's in a research note on Monday, June 9th. Finally, Argus cut McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, McDonald's has an average rating of "Hold" and a consensus price target of $321.79.

McDonald's Stock Up 0.7%

NYSE MCD opened at $291.50 on Wednesday. The stock's 50-day moving average price is $309.60 and its 200-day moving average price is $302.72. McDonald's Corporation has a 52 week low of $243.53 and a 52 week high of $326.32. The company has a market capitalization of $208.43 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 3.02 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion for 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% on a year-over-year basis. During the same quarter last year, the company earned $2.70 EPS. Research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on 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 now owns 10,222 shares of the company's stock, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 2,817 shares of company stock worth $865,843. 0.25% of the stock is currently owned by company insiders.

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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