Leigh Baldwin & CO. LLC Trims Stock Position in McDonald’s Corporation (NYSE:MCD)

Leigh Baldwin & CO. LLC lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 38.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,161 shares of the fast-food giant’s stock after selling 737 shares during the period. Leigh Baldwin & CO. LLC’s holdings in McDonald’s were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mascagni Wealth Management Inc. purchased a new stake in McDonald’s in the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new position in McDonald’s in the fourth quarter valued at $29,000. GKV Capital Management Co. Inc. bought a new stake in McDonald’s during the fourth quarter worth about $30,000. Abound Financial LLC bought a new position in shares of McDonald’s during the 1st quarter valued at about $30,000. Finally, Copia Wealth Management purchased a new stake in McDonald’s in the fourth quarter worth approximately $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, CMO Edith Morgan Flatley sold 976 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $303.50, for a total transaction of $296,216.00. Following the sale, the chief marketing officer directly owned 7,882 shares of the company’s stock, valued at $2,392,187. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,280 shares of company stock worth $2,215,178. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. Northcoast Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Bank of America reduced their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. TD Securities reiterated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Piper Sandler upped their target price on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $350.00 price target (up previously from $345.00) on shares of McDonald’s in a report on Thursday, August 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $326.87.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $308.64 on Friday. McDonald’s Corporation has a 1 year low of $271.85 and a 1 year high of $326.32. The firm’s 50-day moving average is $298.03 and its 200 day moving average is $304.85. The stock has a market cap of $220.25 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.11 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its 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. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

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.