ZRC Wealth Management LLC Trims Stake in McDonald’s Co. (NYSE:MCD)

ZRC Wealth Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,194 shares of the fast-food giant’s stock after selling 222 shares during the period. ZRC Wealth Management LLC’s holdings in McDonald’s were worth $619,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCD. KeyCorp reduced their price objective on McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Argus restated a “hold” rating on shares of McDonald’s in a report on Monday, March 25th. JPMorgan Chase & Co. boosted their target price on shares of McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. UBS Group reduced their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Bank of America dropped their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s 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 sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 approximately $4,696,517.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. In the last ninety days, insiders have 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 NYSE:MCD traded up $2.21 during trading on Thursday, reaching $250.00. The company had a trading volume of 2,026,070 shares, compared to its average volume of 3,639,543. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The stock’s fifty day moving average price is $261.68 and its 200 day moving average price is $278.32. The firm has a market capitalization of $180.17 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS 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 firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the business earned $2.63 EPS. McDonald’s’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

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 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 of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is presently 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.