Midwest Financial Group LLC Trims Position in McDonald’s Co. (NYSE:MCD)

Midwest Financial Group LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,200 shares of the fast-food giant’s stock after selling 50 shares during the period. Midwest Financial Group LLC’s holdings in McDonald’s were worth $338,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Signature Resources Capital Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $31,000. Spartan Planning & Wealth Management purchased a new stake in McDonald’s in the third quarter worth $33,000. Clear Investment Research LLC purchased a new stake in McDonald’s in the fourth quarter worth $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in McDonald’s in the fourth quarter worth $39,000. Finally, Keener Financial Planning LLC purchased a new stake in McDonald’s in the fourth quarter worth $39,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCD has been the topic of several recent research reports. Wedbush reduced their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a research note on Wednesday, March 27th. Argus reissued a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Morgan Stanley cut their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Robert W. Baird cut their target price on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.14.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,997 shares of company stock worth $815,145. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Up 2.2 %

MCD traded up $5.59 during midday trading on Friday, reaching $259.39. The company had a trading volume of 8,426,647 shares, compared to its average volume of 3,222,010. The business has a 50-day moving average of $264.43 and a two-hundred day moving average of $280.29. The company has a market cap of $186.94 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.86 and a beta of 0.71. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.63 EPS. On average, equities research analysts predict that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

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.