Thrive Wealth Management LLC Lowers Stake in McDonald’s Co. (NYSE:MCD)

Thrive Wealth Management LLC reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,300 shares of the fast-food giant’s stock after selling 160 shares during the period. Thrive Wealth Management LLC’s holdings in McDonald’s were worth $1,213,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Independent Wealth Network Inc. raised its holdings in shares of McDonald’s by 4.2% in the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock valued at $256,000 after buying an additional 35 shares during the last quarter. Concentric Wealth Management LLC boosted its holdings in shares of McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after buying an additional 35 shares during the last quarter. Paragon Capital Management Ltd boosted its holdings in shares of McDonald’s by 2.7% in the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after buying an additional 36 shares during the last quarter. Mechanics Financial Corp raised its stake in McDonald’s by 0.7% in the 4th quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after acquiring an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in McDonald’s by 2.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore ISI reiterated an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. Citigroup decreased their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. BMO Capital Markets decreased their price target 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 started coverage on McDonald’s in a research report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target on the stock. Finally, UBS Group reduced their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.14.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was 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 owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction on Friday, May 10th. The stock was 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 approximately $5,225.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

NYSE MCD traded up $0.24 during trading on Friday, reaching $258.41. The company’s stock had a trading volume of 337,541 shares, compared to its average volume of 3,360,371. The firm has a fifty day moving average of $263.91 and a 200 day moving average of $279.67. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The stock has a market capitalization of $186.23 billion, a PE ratio of 21.92, a P/E/G ratio of 2.90 and a beta of 0.71.

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 company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.63 earnings per share. Research analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

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.