Procyon Advisors LLC Trims Stock Position in McDonald’s Co. (NYSE:MCD)

Procyon Advisors LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,100 shares of the fast-food giant’s stock after selling 340 shares during the period. Procyon Advisors LLC’s holdings in McDonald’s were worth $2,284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in McDonald’s during the 4th quarter worth approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC increased its position in McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. International Assets Investment Management LLC increased its position in McDonald’s by 10,702.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock worth $644,739,000 after purchasing an additional 2,154,297 shares during the period. Price T Rowe Associates Inc. MD increased its position in McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in McDonald’s by 552.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock worth $234,729,000 after purchasing an additional 670,261 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction on Friday, May 10th. The shares were 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 owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,095 shares of company stock valued at $1,100,625. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCD has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group began coverage on McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target on the stock. Wedbush lowered their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Evercore ISI restated an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. Finally, Robert W. Baird lowered their price target on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Ten investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.14.

McDonald’s Stock Up 0.1 %

Shares of McDonald’s stock opened at $258.16 on Friday. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The firm has a market cap of $186.05 billion, a PE ratio of 21.92, a P/E/G ratio of 2.90 and a beta of 0.71. The business’s fifty day moving average is $263.91 and its two-hundred day moving average is $279.67.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.63 earnings per share. Equities research analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

McDonald’s Company 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.