McDonald's Co. (NYSE:MCD) Shares Sold by Virginia Wealth Management Group Inc.

Virginia Wealth Management Group Inc. decreased its holdings in McDonald's Co. (NYSE:MCD - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,869 shares of the fast-food giant's stock after selling 930 shares during the period. McDonald's comprises approximately 2.5% of Virginia Wealth Management Group Inc.'s portfolio, making the stock its 21st largest position. Virginia Wealth Management Group Inc.'s holdings in McDonald's were worth $4,020,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Focus Financial Network Inc. increased its stake in shares of McDonald's by 1.5% during the first quarter. Focus Financial Network Inc. now owns 13,606 shares of the fast-food giant's stock worth $4,250,000 after buying an additional 200 shares during the period. Donaldson Capital Management LLC raised its holdings in shares of McDonald's by 3.3% in the 1st quarter. Donaldson Capital Management LLC now owns 211,177 shares of the fast-food giant's stock valued at $65,965,000 after purchasing an additional 6,742 shares in the last quarter. My Legacy Advisors LLC lifted its position in shares of McDonald's by 2.6% during the 1st quarter. My Legacy Advisors LLC now owns 4,802 shares of the fast-food giant's stock worth $1,500,000 after purchasing an additional 122 shares during the last quarter. Curbstone Financial Management Corp grew its stake in shares of McDonald's by 3.1% during the first quarter. Curbstone Financial Management Corp now owns 5,126 shares of the fast-food giant's stock worth $1,601,000 after purchasing an additional 154 shares in the last quarter. Finally, Columbia Advisory Partners LLC acquired a new position in shares of McDonald's during the first quarter worth $274,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler upped their price objective on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and cut their price objective for the stock from $346.00 to $315.00 in a report on Friday, June 6th. TD Securities restated a "hold" rating and issued a $305.00 target price on shares of McDonald's in a report on Thursday, June 5th. Finally, Truist Financial set a $350.00 target price on shares of McDonald's in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $321.79.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total value of $299,071.50. Following the transaction, the insider now directly owns 12,100 shares in the company, valued at approximately $3,853,850. This trade represents a 7.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

McDonald's Stock Performance

Shares of MCD stock traded down $1.04 during mid-day trading on Thursday, reaching $300.68. 1,143,774 shares of the company were exchanged, compared to its average volume of 3,500,187. The business's 50 day simple moving average is $311.84 and its 200 day simple moving average is $302.83. The company has a market capitalization of $215.00 billion, a P/E ratio of 26.40, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. The company had revenue of $5.96 billion during 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 revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $2.70 EPS. On average, analysts forecast that McDonald's Co. will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

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

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.