Leonard Rickey Investment Advisors P.L.L.C. Reduces Stake in McDonald’s Co. (NYSE:MCD)

Leonard Rickey Investment Advisors P.L.L.C. reduced its position in McDonald’s Co. (NYSE:MCD) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,028 shares of the fast-food giant’s stock after selling 55 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in McDonald’s were worth $290,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new position in McDonald’s during the fourth quarter worth $31,000. Spartan Planning & Wealth Management purchased a new position in McDonald’s during the third quarter worth $33,000. Clear Investment Research LLC purchased a new position in McDonald’s during the fourth quarter worth $38,000. Keener Financial Planning LLC purchased a new position in McDonald’s during the fourth quarter worth $39,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $39,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Cowen restated a “buy” rating and set a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 13th. 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. BMO Capital Markets decreased their price objective on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Evercore ISI restated an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a report on Wednesday, March 27th. Finally, Guggenheim reduced their target price on McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $313.89.

Insider Activity at McDonald’s

In other news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 directly owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 4,095 shares of company stock valued at $1,100,625 over the last three months. 0.23% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of NYSE MCD traded down $1.61 during midday trading on Tuesday, reaching $248.38. 1,503,912 shares of the company’s stock were exchanged, compared to its average volume of 3,418,372. The stock has a market capitalization of $179.00 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.87 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’s fifty day moving average price is $263.31 and its two-hundred day moving average price is $279.07.

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). 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 firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.63 earnings per share. Analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company 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 2.69%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 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.