Raymond James & Associates Sells 49,750 Shares of McDonald’s Co. (NYSE:MCD)

Raymond James & Associates decreased its stake in McDonald’s Co. (NYSE:MCD) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,237,467 shares of the fast-food giant’s stock after selling 49,750 shares during the quarter. Raymond James & Associates’ holdings in McDonald’s were worth $348,904,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Impact Partnership Wealth LLC raised its holdings in shares of McDonald’s by 479.4% in the third quarter. Impact Partnership Wealth LLC now owns 394 shares of the fast-food giant’s stock worth $104,000 after buying an additional 326 shares during the period. Strategic Blueprint LLC increased its stake in McDonald’s by 23.7% in the third quarter. Strategic Blueprint LLC now owns 4,219 shares of the fast-food giant’s stock worth $1,111,000 after purchasing an additional 808 shares during the period. Capital Asset Advisory Services LLC lifted its position in shares of McDonald’s by 17.1% during the third quarter. Capital Asset Advisory Services LLC now owns 4,999 shares of the fast-food giant’s stock worth $1,254,000 after purchasing an additional 730 shares during the last quarter. CX Institutional boosted its stake in shares of McDonald’s by 1.0% during the third quarter. CX Institutional now owns 8,024 shares of the fast-food giant’s stock valued at $2,114,000 after purchasing an additional 76 shares during the period. Finally, Syntegra Private Wealth Group LLC grew its holdings in shares of McDonald’s by 9.0% in the third quarter. Syntegra Private Wealth Group LLC now owns 1,398 shares of the fast-food giant’s stock worth $368,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.9 %

Shares of McDonald’s stock traded down $2.51 during midday trading on Friday, hitting $273.09. The company had a trading volume of 3,636,458 shares, compared to its average volume of 3,338,426. The stock has a market cap of $196.90 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 3.01 and a beta of 0.71. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39. The company has a fifty day simple moving average of $281.68 and a 200 day simple moving average of $281.53.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the company posted $2.59 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that McDonald’s Co. will post 12.34 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a yield of 2.45%. McDonald’s’s payout ratio is presently 57.74%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MCD shares. Barclays lowered their price objective on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Oppenheimer reissued a “market perform” rating on shares of McDonald’s in a research note on Friday, January 5th. Truist Financial decreased their target price on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Stephens reissued an “overweight” rating and set a $320.00 price target on shares of McDonald’s in a research report on Monday, February 5th. Finally, Argus restated a “hold” rating on shares of McDonald’s in a report on Monday, March 25th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.41.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.