Dakota Wealth Management Cuts Stake in McDonald’s Corporation (NYSE:MCD)

Dakota Wealth Management reduced its position in McDonald’s Corporation (NYSE:MCD) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,816 shares of the fast-food giant’s stock after selling 2,614 shares during the quarter. Dakota Wealth Management’s holdings in McDonald’s were worth $10,875,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MCD. Norges Bank acquired a new stake in shares of McDonald’s during the fourth quarter worth $2,725,190,000. GAMMA Investing LLC lifted its position in McDonald’s by 39,039.7% during the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after purchasing an additional 3,488,982 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in McDonald’s during the fourth quarter valued at $350,935,000. Northern Trust Corp lifted its position in McDonald’s by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after purchasing an additional 895,896 shares during the period. Finally, Franklin Resources Inc. lifted its position in McDonald’s by 24.4% during the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant’s stock valued at $1,175,326,000 after purchasing an additional 794,536 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.5%

MCD stock opened at $299.80 on Monday. McDonald’s Corporation has a fifty-two week low of $246.12 and a fifty-two week high of $326.32. The firm’s 50-day simple moving average is $304.11 and its 200 day simple moving average is $302.59. The stock has a market cap of $214.37 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53.

McDonald’s (NYSE:MCD) last released 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. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.70 EPS. Equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s dividend payout ratio is presently 62.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Redburn Atlantic restated a “sell” rating and set a $260.00 target price (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research report on Thursday. BMO Capital Markets restated an “outperform” rating and set a $345.00 target price (up from $340.00) on shares of McDonald’s in a research report on Monday, May 5th. Piper Sandler upped their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their price target for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $322.29.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,817 shares of company stock valued at $1,165,843. Insiders own 0.25% of the company’s stock.

McDonald’s Company 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.