Sunbelt Securities Inc. Trims Stock Position in McDonald's Corporation (NYSE:MCD)

Sunbelt Securities Inc. lessened its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,632 shares of the fast-food giant's stock after selling 1,595 shares during the quarter. Sunbelt Securities Inc.'s holdings in McDonald's were worth $2,696,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new stake in McDonald's in the 4th quarter worth approximately $25,000. Atala Financial Inc purchased a new position in shares of McDonald's during the 4th quarter valued at approximately $26,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald's in the 4th quarter valued at $29,000. Fairway Wealth LLC boosted its holdings in McDonald's by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after buying an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in McDonald's during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Trading Up 2.2%

McDonald's stock opened at $291.94 on Friday. The stock has a market cap of $208.74 billion, a P/E ratio of 25.77, a PEG ratio of 2.98 and a beta of 0.56. The company has a 50-day moving average price of $308.26 and a 200 day moving average price of $302.43. McDonald's Corporation has a 12-month low of $243.53 and a 12-month high of $326.32.

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

McDonald's Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 2,817 shares of company stock worth $865,843 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCD. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. TD Securities restated a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Piper Sandler upped their price target on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. BMO Capital Markets reiterated an "outperform" rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald's in a research report on Monday, May 5th. Finally, Redburn Atlantic restated a "sell" rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $321.79.

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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