Patriot Financial Group Insurance Agency LLC Sells 65 Shares of McDonald’s Co. (NYSE:MCD)

Patriot Financial Group Insurance Agency LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,186 shares of the fast-food giant’s stock after selling 65 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in McDonald’s were worth $995,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth $25,000. Atala Financial Inc acquired a new position in shares of McDonald’s during the 4th quarter worth about $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of McDonald’s in the 4th quarter valued at about $27,000. Collier Financial acquired a new stake in McDonald’s in the 4th quarter valued at about $29,000. Finally, Pinney & Scofield Inc. bought a new position in McDonald’s during the fourth quarter worth about $29,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Truist Financial set a $350.00 price objective on shares of McDonald’s in a research report on Friday, May 2nd. Piper Sandler increased their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their target price for the stock from $346.00 to $315.00 in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $324.96.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $307.44 on Monday. The business has a 50-day simple moving average of $312.29 and a 200 day simple moving average of $302.76. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The firm has a market capitalization of $219.83 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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 business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.70 earnings per share. On average, sell-side analysts expect that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

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

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.