SeaCrest Wealth Management LLC Lowers Position in McDonald’s Co. (NYSE:MCD)

SeaCrest Wealth Management LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 23.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,101 shares of the fast-food giant’s stock after selling 1,592 shares during the period. SeaCrest Wealth Management LLC’s holdings in McDonald’s were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the first quarter worth approximately $28,000. Signature Resources Capital Management LLC purchased a new stake in shares of McDonald’s during the 4th quarter worth $31,000. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald’s during the third quarter valued at about $33,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the fourth quarter valued at approximately $38,000. Finally, Keener Financial Planning LLC acquired a new stake in shares of McDonald’s in the 4th quarter worth $39,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, 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 completion of the transaction, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,095 shares of company stock worth $1,100,625. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $247.79 on Wednesday. The company has a market cap of $178.58 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71. The stock has a 50-day moving average of $262.80 and a 200-day moving average of $278.79. McDonald’s Co. has a 52-week low of $245.73 and a 52-week high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business posted $2.63 EPS. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.70%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCD. Citigroup cut their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Argus reissued a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Truist Financial lowered their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus dropped their price target on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Finally, Guggenheim dropped their price objective on McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target 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.