Sonora Investment Management Group LLC Acquires 2,924 Shares of McDonald's Co. (NYSE:MCD)

Sonora Investment Management Group LLC lifted its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 48,785 shares of the fast-food giant's stock after purchasing an additional 2,924 shares during the period. McDonald's accounts for about 1.2% of Sonora Investment Management Group LLC's portfolio, making the stock its 28th largest position. Sonora Investment Management Group LLC's holdings in McDonald's were worth $15,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's in the fourth quarter worth about $25,000. Atala Financial Inc acquired a new stake in shares of McDonald's in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald's in the 4th quarter worth approximately $27,000. Collier Financial bought a new position in McDonald's in the 4th quarter worth approximately $29,000. Finally, Pinney & Scofield Inc. acquired a new position in McDonald's during the 4th quarter worth $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company's stock.

McDonald's Stock Performance

MCD stock traded down $1.59 during mid-day trading on Friday, hitting $301.57. 2,424,707 shares of the company were exchanged, compared to its average volume of 3,504,181. The firm has a market cap of $215.63 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald's Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The firm's 50 day simple moving average is $311.91 and its 200 day simple moving average is $302.88.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $2.70 earnings per share. On average, equities research analysts predict that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald's's dividend payout ratio is 62.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MCD shares. Redburn Atlantic reissued a "sell" rating and issued a $260.00 target price (down from $319.00) on shares of McDonald's in a research note on Tuesday. Truist Financial set a $350.00 price objective on McDonald's in a research report on Friday, May 2nd. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday. TD Securities reiterated a "hold" rating and set a $305.00 price target on shares of McDonald's in a research report on Thursday, June 5th. Finally, Robert W. Baird boosted their price target on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. 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 MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $321.79.

About McDonald's

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.