Schmidt P J Investment Management Inc. cut its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,895 shares of the fast-food giant's stock after selling 1,449 shares during the quarter. McDonald's comprises about 1.7% of Schmidt P J Investment Management Inc.'s investment portfolio, making the stock its 15th largest position. Schmidt P J Investment Management Inc.'s holdings in McDonald's were worth $9,026,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. First American Trust FSB grew its stake in McDonald's by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after acquiring an additional 13,234 shares during the last quarter. Banque Transatlantique SA grew its stake in McDonald's by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock valued at $71,829,000 after acquiring an additional 91,313 shares during the last quarter. Hamilton Capital LLC grew its stake in McDonald's by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock valued at $982,000 after acquiring an additional 819 shares during the last quarter. Red Door Wealth Management LLC grew its stake in McDonald's by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after acquiring an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in McDonald's by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after acquiring an additional 18,393 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.
McDonald's Stock Down 1.0%
Shares of McDonald's stock traded down $2.94 during trading hours on Friday, hitting $305.49. The company's stock had a trading volume of 2,072,499 shares, compared to its average volume of 2,839,153. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The business has a fifty day moving average of $305.33 and a 200 day moving average of $306.57. The company has a market capitalization of $218.00 billion, a PE ratio of 26.18, a P/E/G ratio of 3.14 and a beta of 0.50.
McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 earnings per share. On average, sell-side analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.
McDonald's Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is currently 60.67%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus raised their price target on shares of McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a research note on Friday, August 22nd. Guggenheim reaffirmed a "neutral" rating on shares of McDonald's in a research note on Friday, August 8th. TD Securities reaffirmed a "hold" rating and set a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Finally, Melius started coverage on shares of McDonald's in a research note on Monday, July 14th. They set a "sell" rating and a $250.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $325.14.
View Our Latest Analysis on MCD
Insider Buying and Selling at McDonald's
In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares of the company's stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,341 shares of company stock worth $2,544,327. Company insiders own 0.25% of the company's stock.
About McDonald's
(
Free Report)
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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