Monument Capital Management Sells 261 Shares of McDonald’s Co. (NYSE:MCD)

Monument Capital Management reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,210 shares of the fast-food giant’s stock after selling 261 shares during the period. Monument Capital Management’s holdings in McDonald’s were worth $905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Saxon Interests Inc. lifted its stake in McDonald’s by 6.9% during the first quarter. Saxon Interests Inc. now owns 3,399 shares of the fast-food giant’s stock worth $958,000 after purchasing an additional 218 shares during the last quarter. Naviter Wealth LLC purchased a new stake in McDonald’s in the first quarter worth approximately $1,364,000. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s during the first quarter valued at approximately $28,000. Synergy Asset Management LLC raised its stake in shares of McDonald’s by 40.1% during the first quarter. Synergy Asset Management LLC now owns 14,606 shares of the fast-food giant’s stock worth $4,118,000 after acquiring an additional 4,177 shares in the last quarter. Finally, Cullinan Associates Inc. lifted its holdings in shares of McDonald’s by 2.6% in the 1st quarter. Cullinan Associates Inc. now owns 89,522 shares of the fast-food giant’s stock worth $25,241,000 after acquiring an additional 2,246 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other news, EVP Jonathan Banner sold 800 shares of the company’s 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 transaction, 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 filing with the SEC, which is available at the SEC website. 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 transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders sold 4,095 shares of company stock valued at $1,100,625 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Truist Financial decreased their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Guggenheim dropped their target price on McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen reaffirmed a “buy” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 13th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

McDonald’s Stock Performance

Shares of McDonald’s stock traded up $1.58 during trading on Wednesday, hitting $249.37. The company’s stock had a trading volume of 928,219 shares, compared to its average volume of 3,417,984. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The company has a market capitalization of $179.72 billion, a PE ratio of 21.18, a P/E/G ratio of 2.87 and a beta of 0.71. The company has a fifty day simple moving average of $262.22 and a two-hundred day simple moving average of $278.52.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period last year, the business earned $2.63 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts predict 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. Stockholders of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.68%. McDonald’s’s dividend payout ratio is presently 56.71%.

McDonald’s 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.