McDonald’s Co. (NYSE:MCD) Shares Sold by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA decreased its holdings in McDonald’s Co. (NYSE:MCD) by 4.2% in the 1st quarter, HoldingsChannel reports. The fund owned 2,122 shares of the fast-food giant’s stock after selling 93 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in McDonald’s were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Granite Bay Wealth Management LLC raised its position in shares of McDonald’s by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after buying an additional 33 shares during the last quarter. Northeast Financial Consultants Inc increased its stake in McDonald’s by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock valued at $2,170,000 after acquiring an additional 34 shares during the period. Tealwood Asset Management Inc. lifted its position in shares of McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock worth $2,535,000 after acquiring an additional 34 shares during the period. Pettee Investors Inc. lifted its position in shares of McDonald’s by 0.7% in the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after acquiring an additional 35 shares during the period. Finally, Covestor Ltd grew its holdings in shares of McDonald’s by 4.1% during the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

NYSE MCD opened at $301.93 on Thursday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The stock has a market capitalization of $215.89 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The stock has a fifty day moving average of $311.84 and a 200-day moving average of $302.83.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the company earned $2.70 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. Equities research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is 62.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCD. Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Citigroup lifted their price objective on McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and lowered their price objective for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Finally, Barclays raised their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.