Avantax Planning Partners Inc. lowered its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,444 shares of the fast-food giant’s stock after selling 2,216 shares during the period. Avantax Planning Partners Inc.’s holdings in McDonald’s were worth $4,039,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC increased its position in McDonald’s by 4.2% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,948 shares of the fast-food giant’s stock valued at $1,041,000 after acquiring an additional 160 shares during the period. Park Avenue Securities LLC increased its position in McDonald’s by 0.3% in the 1st quarter. Park Avenue Securities LLC now owns 19,390 shares of the fast-food giant’s stock valued at $5,422,000 after acquiring an additional 63 shares during the period. Geneos Wealth Management Inc. increased its position in McDonald’s by 19.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 10,641 shares of the fast-food giant’s stock valued at $2,804,000 after acquiring an additional 1,766 shares during the period. Contravisory Investment Management Inc. increased its position in McDonald’s by 2.2% in the 1st quarter. Contravisory Investment Management Inc. now owns 2,659 shares of the fast-food giant’s stock valued at $743,000 after acquiring an additional 56 shares during the period. Finally, National Bank of Canada FI increased its position in McDonald’s by 77.1% in the 4th quarter. National Bank of Canada FI now owns 210,130 shares of the fast-food giant’s stock valued at $55,351,000 after acquiring an additional 91,484 shares during the period. Institutional investors and hedge funds own 67.08% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on MCD shares. UBS Group boosted their price target on McDonald’s from $305.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Loop Capital boosted their target price on McDonald’s from $328.00 to $346.00 in a research report on Wednesday, April 26th. 1-800-FLOWERS.COM reiterated a “reiterates” rating on shares of McDonald’s in a research report on Tuesday, April 25th. Tigress Financial boosted their target price on McDonald’s from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Finally, Jefferies Financial Group boosted their target price on McDonald’s from $315.00 to $320.00 in a research report on Thursday, April 6th. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $308.79.
Insider Activity at McDonald’s
In other McDonald’s news, SVP Catherine A. Hoovel sold 840 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $298.77, for a total transaction of $250,966.80. Following the transaction, the senior vice president now owns 891 shares in the company, valued at approximately $266,204.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Catherine A. Hoovel sold 840 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $298.77, for a total value of $250,966.80. Following the completion of the transaction, the senior vice president now owns 891 shares of the company’s stock, valued at approximately $266,204.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Manuel Jm Steijaert sold 3,402 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $296.35, for a total transaction of $1,008,182.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,154 shares of company stock worth $5,032,594. Insiders own 0.18% of the company’s stock.
McDonald’s Stock Performance
MCD traded down $2.29 during trading on Monday, reaching $296.12. 695,717 shares of the company’s stock were exchanged, compared to its average volume of 2,611,380. McDonald’s Co. has a fifty-two week low of $230.58 and a fifty-two week high of $299.10. The firm has a market capitalization of $216.19 billion, a PE ratio of 32.02, a P/E/G ratio of 3.14 and a beta of 0.64. The company’s fifty day moving average price is $291.54 and its 200-day moving average price is $278.15.
McDonald’s (NYSE:MCD – Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The fast-food giant reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. McDonald’s had a net margin of 29.36% and a negative return on equity of 124.87%. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the previous year, the firm posted $2.28 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that McDonald’s Co. will post 11.05 earnings per share for the current fiscal year.
McDonald’s Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Monday, June 5th were paid a dividend of $1.52 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $6.08 annualized dividend and a dividend yield of 2.05%. McDonald’s’s dividend payout ratio is presently 65.24%.
About McDonald’s
McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States and internationally. The company’s restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.