Procyon Advisors LLC Acquires 282 Shares of McDonald’s Co. (NYSE:MCD)

Procyon Advisors LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,381 shares of the fast-food giant’s stock after buying an additional 282 shares during the period. Procyon Advisors LLC’s holdings in McDonald’s were worth $2,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. bought a new position in McDonald’s during the 4th quarter valued at about $25,000. Atala Financial Inc bought a new position in McDonald’s in the 4th quarter worth about $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s in the 4th quarter worth about $27,000. Collier Financial purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $29,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $29,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 0.5%

NYSE:MCD opened at $307.44 on Friday. The company’s 50-day moving average price is $312.29 and its 200-day moving average price is $302.57. The company has a market cap of $219.83 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

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

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’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 transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCD shares. Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. Bank of America increased their target price on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Morgan Stanley decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $345.00 price target (up previously from $340.00) on shares of McDonald’s in a report on Monday, May 5th. Finally, Robert W. Baird raised their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $324.96.

About McDonald’s

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.