Carl P. Sherr & Co. LLC Sells 400 Shares of McDonald’s Corporation (NYSE:MCD)

Carl P. Sherr & Co. LLC cut its stake in McDonald’s Corporation (NYSE:MCD) by 6.7% in the first quarter, HoldingsChannel reports. The fund owned 5,587 shares of the fast-food giant’s stock after selling 400 shares during the period. McDonald’s accounts for 1.0% of Carl P. Sherr & Co. LLC’s holdings, making the stock its 27th largest position. Carl P. Sherr & Co. LLC’s holdings in McDonald’s were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MCD. Mascagni Wealth Management Inc. bought a new position in McDonald’s in the fourth quarter valued at approximately $25,000. Abound Financial LLC bought a new stake in McDonald’s in the first quarter valued at about $30,000. Pinney & Scofield Inc. bought a new position in McDonald’s during the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter worth about $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at about $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $302.64 on Wednesday. McDonald’s Corporation has a one year low of $260.31 and a one year high of $326.32. The company has a market cap of $216.40 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.13 and a beta of 0.53. The firm has a 50 day simple moving average of $300.22 and a 200 day simple moving average of $303.25.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $6.17 billion. During the same quarter last year, the business earned $2.70 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.34%. McDonald’s’s payout ratio is 62.49%.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company’s stock, valued at $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock worth $1,147,992 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCD. Loop Capital cut shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price objective for the company from $346.00 to $315.00 in a report on Friday, June 6th. Melius initiated coverage on shares of McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price target for the company. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Citigroup lifted their target price on McDonald’s from $364.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Morgan Stanley increased their price target on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $322.00.

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.