Naples Global Advisors LLC Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Naples Global Advisors LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,324 shares of the fast-food giant’s stock after selling 113 shares during the quarter. Naples Global Advisors LLC’s holdings in McDonald’s were worth $5,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. L. Roy Papp & Associates LLP increased its stake in shares of McDonald’s by 0.6% during the first quarter. L. Roy Papp & Associates LLP now owns 8,254 shares of the fast-food giant’s stock valued at $2,578,000 after buying an additional 50 shares during the period. Warren Street Wealth Advisors LLC purchased a new stake in McDonald’s in the first quarter worth $269,000. Matrix Trust Co boosted its holdings in McDonald’s by 1.1% in the first quarter. Matrix Trust Co now owns 7,571 shares of the fast-food giant’s stock valued at $2,365,000 after acquiring an additional 86 shares in the last quarter. Clare Market Investments LLC increased its position in McDonald’s by 14.8% during the 1st quarter. Clare Market Investments LLC now owns 1,987 shares of the fast-food giant’s stock valued at $621,000 after purchasing an additional 256 shares during the period. Finally, Secure Asset Management LLC increased its position in McDonald’s by 28.7% during the 1st quarter. Secure Asset Management LLC now owns 9,676 shares of the fast-food giant’s stock valued at $3,022,000 after purchasing an additional 2,156 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of a number of research reports. Piper Sandler lifted their target price on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Bank of America raised their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. JPMorgan Chase & Co. increased their target price on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Truist Financial set a $350.00 price target on McDonald’s in a research report on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $325.91.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the sale, the insider now owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This trade represents a 7.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $311.70 on Thursday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The firm’s 50-day moving average is $312.49 and its 200 day moving average is $302.34. The stock has a market cap of $222.88 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same period in the previous year, the company earned $2.70 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.27%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

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.