Albion Financial Group UT Has $8.28 Million Position in McDonald’s Co. (NYSE:MCD)

Albion Financial Group UT reduced its stake in McDonald’s Co. (NYSE:MCD) by 0.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 29,349 shares of the fast-food giant’s stock after selling 44 shares during the period. Albion Financial Group UT’s holdings in McDonald’s were worth $8,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WFA Asset Management Corp boosted its position in shares of McDonald’s by 21.0% in the first quarter. WFA Asset Management Corp now owns 1,083 shares of the fast-food giant’s stock valued at $305,000 after acquiring an additional 188 shares during the period. Saxon Interests Inc. boosted its position in shares of McDonald’s by 6.9% in the first quarter. Saxon Interests Inc. now owns 3,399 shares of the fast-food giant’s stock valued at $958,000 after acquiring an additional 218 shares during the period. Naviter Wealth LLC bought a new stake in shares of McDonald’s in the first quarter valued at about $1,364,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the first quarter valued at about $28,000. Finally, Synergy Asset Management LLC boosted its position in shares of McDonald’s by 40.1% in the first quarter. Synergy Asset Management LLC now owns 14,606 shares of the fast-food giant’s stock valued at $4,118,000 after acquiring an additional 4,177 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,593 shares of company stock valued at $1,472,518. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Up 0.9 %

NYSE:MCD traded up $2.21 on Wednesday, reaching $250.00. 2,026,027 shares of the stock traded hands, compared to its average volume of 3,426,628. The firm has a market capitalization of $180.17 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71. The company’s 50 day moving average is $262.22 and its 200-day moving average is $278.52. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39.

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

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Morgan Stanley cut their price objective on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, TD Cowen reaffirmed a “buy” rating and set a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 13th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.89.

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.