Calton & Associates Inc. decreased its holdings in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,628 shares of the fast-food giant’s stock after selling 520 shares during the period. Calton & Associates Inc.’s holdings in McDonald’s were worth $649,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Norwood Financial Corp bought a new stake in McDonald’s during the fourth quarter valued at $27,000. Future Financial Wealth Managment LLC bought a new stake in McDonald’s during the fourth quarter valued at $33,000. Castle Financial & Retirement Planning Associates Inc. acquired a new position in shares of McDonald’s during the fourth quarter valued at $34,000. Horan Securities Inc. acquired a new position in shares of McDonald’s during the fourth quarter valued at $45,000. Finally, Fortis Advisors LLC acquired a new position in shares of McDonald’s during the third quarter valued at $48,000. Hedge funds and other institutional investors own 68.44% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of McDonald’s from $294.00 to $287.00 and set an “overweight” rating for the company in a report on Thursday, March 17th. Northcoast Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and set a $297.00 price target for the company. in a report on Thursday, March 10th. Truist Financial reduced their price objective on shares of McDonald’s from $280.00 to $273.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. UBS Group reduced their price objective on shares of McDonald’s from $300.00 to $290.00 and set a “buy” rating for the company in a report on Wednesday, March 30th. Finally, StockNews.com initiated coverage on shares of McDonald’s in a report on Thursday, March 31st. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $281.15.
McDonald’s (NYSE:MCD – Get Rating) last issued its earnings results on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The company had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.57 billion. McDonald’s had a negative return on equity of 131.20% and a net margin of 29.93%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS. On average, equities analysts predict that McDonald’s Co. will post 9.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Monday, June 6th were paid a $1.38 dividend. The ex-dividend date was Friday, June 3rd. This represents a $5.52 annualized dividend and a dividend yield of 2.27%. McDonald’s’s payout ratio is 58.29%.
In related news, insider Joseph M. Erlinger sold 5,892 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $249.23, for a total value of $1,468,463.16. Following the completion of the sale, the insider now owns 8,187 shares of the company’s stock, valued at approximately $2,040,446.01. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.
About McDonald’s (Get Rating)
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
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