Roof Eidam Maycock Peralta LLC Sells 43 Shares of McDonald’s Corporation (NYSE:MCD)

Roof Eidam Maycock Peralta LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 650 shares of the fast-food giant’s stock after selling 43 shares during the period. Roof Eidam Maycock Peralta LLC’s holdings in McDonald’s were worth $203,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in McDonald’s by 6.6% in the 1st quarter. Chicago Partners Investment Group LLC now owns 20,151 shares of the fast-food giant’s stock worth $6,411,000 after acquiring an additional 1,241 shares in the last quarter. Pinney & Scofield Inc. grew its stake in McDonald’s by 132.0% in the 1st quarter. Pinney & Scofield Inc. now owns 232 shares of the fast-food giant’s stock worth $72,000 after acquiring an additional 132 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in McDonald’s in the 1st quarter worth about $24,638,000. Citizens Financial Group Inc. RI grew its stake in McDonald’s by 6.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 28,023 shares of the fast-food giant’s stock worth $8,754,000 after acquiring an additional 1,774 shares in the last quarter. Finally, Provident Investment Management Inc. grew its stake in McDonald’s by 9.1% in the 1st quarter. Provident Investment Management Inc. now owns 11,968 shares of the fast-food giant’s stock worth $3,738,000 after acquiring an additional 1,000 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. TD Securities restated a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 5th. BMO Capital Markets restated an “outperform” rating and issued a $345.00 target price (up from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Northcoast Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Truist Financial upped their target price on shares of McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the stock from $346.00 to $315.00 in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $323.39.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider directly owned 9,283 shares of the company’s stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,280 shares of company stock valued at $2,215,178 over the last 90 days. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 2.9%

NYSE:MCD opened at $307.47 on Thursday. McDonald’s Corporation has a 52 week low of $265.33 and a 52 week high of $326.32. The firm has a 50 day moving average of $298.81 and a 200 day moving average of $303.99. The stock has a market capitalization of $219.85 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 3.13 and a beta of 0.52.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. 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 announced 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 of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 62.49%.

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.