McDonald’s Corporation (NYSE:MCD) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC reduced its stake in McDonald’s Corporation (NYSE:MCD) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,704 shares of the fast-food giant’s stock after selling 417 shares during the period. Evanson Asset Management LLC’s holdings in McDonald’s were worth $845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s during the fourth quarter worth about $25,000. Atala Financial Inc purchased a new stake in shares of McDonald’s in the 4th quarter valued at approximately $26,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald’s in the 4th quarter valued at $29,000. Fairway Wealth LLC lifted its position in shares of McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of McDonald’s during the fourth quarter worth $30,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Down 1.1%

NYSE MCD opened at $289.24 on Friday. The stock has a market capitalization of $206.81 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.02 and a beta of 0.56. The business’s 50 day moving average is $311.02 and its two-hundred day moving average is $302.84. McDonald’s Corporation has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the prior year, the company posted $2.70 earnings per share. McDonald’s’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, June 2nd. McDonald’s’s payout ratio is currently 62.49%.

Analysts Set New Price Targets

A number of analysts have issued reports on MCD shares. Redburn Atlantic reaffirmed a “sell” rating and set a $260.00 price target (down from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Citigroup raised their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Barclays boosted their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Truist Financial set a $350.00 target price on shares of McDonald’s in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $321.79.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. The trade was a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

About McDonald’s

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.