AMI Asset Management Corp Sells 42 Shares of McDonald’s Corporation (NYSE:MCD)

AMI Asset Management Corp lessened its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,533 shares of the fast-food giant’s stock after selling 42 shares during the quarter. AMI Asset Management Corp’s holdings in McDonald’s were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s during the fourth quarter valued at approximately $25,000. Atala Financial Inc purchased a new stake in McDonald’s in the fourth quarter worth $26,000. Pinney & Scofield Inc. purchased a new stake in McDonald’s in the fourth quarter worth $29,000. Fairway Wealth LLC grew its stake in McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new stake in McDonald’s in the fourth quarter worth $30,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald’s 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 transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,817 shares of company stock valued at $865,843 over the last quarter. 0.25% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

MCD stock opened at $285.78 on Thursday. McDonald’s Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The business’s 50-day moving average is $309.13 and its two-hundred day moving average is $302.60. The company has a market cap of $204.34 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 3.04 and a beta of 0.56.

McDonald’s (NYSE:MCD) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the prior year, the company earned $2.70 earnings per share. McDonald’s’s revenue was down 3.5% on a year-over-year basis. Equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is 62.49%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCD. Northcoast Research cut McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Erste Group Bank cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Robert W. Baird upped their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. TD Securities reaffirmed a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 5th. Finally, Truist Financial set a $350.00 target price on McDonald’s 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $321.79.

McDonald’s Company 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.