McDonald’s Co. (NYSE:MCD) Shares Sold by First Financial Corp IN

First Financial Corp IN lowered its holdings in McDonald’s Co. (NYSE:MCD) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,755 shares of the fast-food giant’s stock after selling 911 shares during the period. First Financial Corp IN’s holdings in McDonald’s were worth $777,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Exchange Bank boosted its holdings in McDonald’s by 1.9% in the 1st quarter. Exchange Bank now owns 2,657 shares of the fast-food giant’s stock worth $749,000 after acquiring an additional 50 shares during the period. Hoxton Planning & Management LLC purchased a new position in shares of McDonald’s in the first quarter valued at $222,000. DLK Investment Management LLC grew its holdings in McDonald’s by 4.3% during the 1st quarter. DLK Investment Management LLC now owns 14,152 shares of the fast-food giant’s stock valued at $3,990,000 after purchasing an additional 580 shares in the last quarter. New England Professional Planning Group Inc. acquired a new stake in McDonald’s during the 1st quarter valued at $225,000. Finally, Beech Hill Advisors Inc. increased its stake in McDonald’s by 14.9% during the 1st quarter. Beech Hill Advisors Inc. now owns 7,705 shares of the fast-food giant’s stock worth $2,173,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,095 shares of company stock valued at $1,100,625. 0.23% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

Shares of MCD traded down $0.05 during trading hours on Wednesday, reaching $257.33. 1,167,448 shares of the company traded hands, compared to its average volume of 3,378,322. The stock’s fifty day moving average is $264.15 and its 200 day moving average is $279.82. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The stock has a market cap of $185.45 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.90 and a beta of 0.71.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.60%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen reiterated a “buy” rating and set a $305.00 price target on shares of McDonald’s in a research report on Thursday, June 13th. Evercore ISI reissued an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Citigroup decreased their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Wedbush dropped their price target on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.14.

About McDonald’s

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.