Procyon Advisors LLC Sells 340 Shares of McDonald’s Co. (NYSE:MCD)

Procyon Advisors LLC decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,100 shares of the fast-food giant’s stock after selling 340 shares during the quarter. Procyon Advisors LLC’s holdings in McDonald’s were worth $2,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Roffman Miller Associates Inc. PA grew its position in shares of McDonald’s by 1.7% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after buying an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC grew its position in shares of McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after buying an additional 114 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of McDonald’s during the 4th quarter worth $4,286,000. Strait & Sound Wealth Management LLC bought a new position in shares of McDonald’s during the 4th quarter worth $211,000. Finally, First National Bank of Mount Dora Trust Investment Services grew its position in shares of McDonald’s by 2.8% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after buying an additional 301 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $258.16 on Friday. The firm has a market capitalization of $186.05 billion, a PE ratio of 21.92, a P/E/G ratio of 2.90 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The stock’s 50-day simple moving average is $263.91 and its 200-day simple moving average is $279.67.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $2.63 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.59%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 value of $291,377.87. Following the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,095 shares of company stock valued at $1,100,625 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Evercore ISI restated an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Stifel Nicolaus decreased their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. BMO Capital Markets decreased their price objective on McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Argus restated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.14.

McDonald’s Company Profile

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.