Powers Advisory Group LLC Sells 266 Shares of McDonald’s Co. (NYSE:MCD)

Powers Advisory Group LLC trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,206 shares of the fast-food giant’s stock after selling 266 shares during the quarter. McDonald’s makes up 1.0% of Powers Advisory Group LLC’s holdings, making the stock its 20th biggest holding. Powers Advisory Group LLC’s holdings in McDonald’s were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of McDonald’s in the 4th quarter valued at $2,684,899,000. Gallagher Fiduciary Advisors LLC raised its holdings in shares of McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. International Assets Investment Management LLC boosted its position in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after buying an additional 987,099 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in McDonald’s by 552.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock valued at $234,729,000 after buying an additional 670,261 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction 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 sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 sale, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,593 shares of company stock worth $1,472,518. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD traded up $2.21 during mid-day trading on Thursday, hitting $250.00. The stock had a trading volume of 2,026,070 shares, compared to its average volume of 3,639,543. The firm has a market cap of $180.17 billion, a P/E ratio of 21.22, a PEG ratio of 2.79 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The business has a fifty day moving average price of $261.68 and a 200-day moving average price of $278.32.

McDonald’s (NYSE:MCD) last announced 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). The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.63 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.67%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial decreased their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Citigroup decreased their price target on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. BMO Capital Markets decreased their target price on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Robert W. Baird dropped their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Ten 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, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $313.89.

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.