McDonald’s Corporation $MCD Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 28,895 shares of the fast-food giant’s stock after selling 1,449 shares during the period. McDonald’s comprises approximately 1.7% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 15th largest position. Schmidt P J Investment Management Inc.’s holdings in McDonald’s were worth $9,026,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MCD. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s in the first quarter worth about $26,000. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s in the fourth quarter worth about $25,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the first quarter worth about $30,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 0.1%

Shares of NYSE MCD opened at $312.63 on Wednesday. The firm’s 50-day simple moving average is $304.57 and its 200 day simple moving average is $306.61. The company has a market cap of $223.09 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.19 and a beta of 0.49. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 EPS. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio is 60.67%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research reports. Truist Financial raised their price target on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. KeyCorp reaffirmed an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Erste Group Bank lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Stifel Nicolaus boosted their target price on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Hold” and an average target price of $325.14.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,341 shares of company stock worth $2,544,327 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.