ZRC Wealth Management LLC Has $619,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

ZRC Wealth Management LLC trimmed its stake in McDonald’s Co. (NYSE:MCD) by 9.2% in the first quarter, Holdings Channel reports. The firm owned 2,194 shares of the fast-food giant’s stock after selling 222 shares during the quarter. ZRC Wealth Management LLC’s holdings in McDonald’s were worth $619,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC bought a new stake in McDonald’s in the 4th quarter valued at $31,000. Spartan Planning & Wealth Management bought a new stake in McDonald’s in the 3rd quarter valued at $33,000. Clear Investment Research LLC bought a new position in McDonald’s during the fourth quarter worth $38,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in shares of McDonald’s in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.9 %

NYSE:MCD traded up $2.21 on Thursday, hitting $250.00. The company had a trading volume of 2,026,070 shares, compared to its average volume of 3,639,543. The firm has a 50 day moving average of $261.68 and a two-hundred day moving average of $278.32. The stock has a market capitalization of $180.17 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.79 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last announced 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 firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.63 earnings per share. As a group, equities analysts forecast that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction 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 sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock worth $1,472,518 in the last quarter. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

MCD has been the subject of several research analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Bank of America decreased their target price on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Citigroup lowered their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. TD Cowen reaffirmed a “buy” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 13th. Finally, Guggenheim lowered their price objective on McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $313.89.

McDonald’s 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.