AMI Asset Management Corp Has $1.05 Million Position in McDonald’s Co. (NYSE:MCD)

AMI Asset Management Corp reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,716 shares of the fast-food giant’s stock after selling 162 shares during the quarter. AMI Asset Management Corp’s holdings in McDonald’s were worth $1,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC boosted its holdings in McDonald’s by 3.0% during the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 1,660 shares of the fast-food giant’s stock worth $437,000 after acquiring an additional 48 shares during the last quarter. Legacy Advisors LLC increased its stake in McDonald’s by 54.3% in the 3rd quarter. Legacy Advisors LLC now owns 14,471 shares of the fast-food giant’s stock valued at $3,812,000 after buying an additional 5,092 shares during the last quarter. Lakeshore Financial Planning Inc. purchased a new position in shares of McDonald’s in the 3rd quarter worth approximately $1,221,000. KPP Advisory Services LLC purchased a new stake in shares of McDonald’s during the third quarter valued at approximately $1,008,000. Finally, Kelly Lawrence W & Associates Inc. CA increased its position in shares of McDonald’s by 12.5% during the 3rd quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,090 shares of the fast-food giant’s stock valued at $551,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MCD. TD Cowen restated a “buy” rating and set a $305.00 price target on shares of McDonald’s in a research report on Thursday, June 13th. Bank of America decreased their target price on McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Guggenheim dropped their price objective on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday. Evercore ISI reiterated an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Finally, Citigroup dropped their price objective on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $313.89.

McDonald’s Price Performance

MCD traded up $2.21 during midday trading on Thursday, reaching $250.00. 2,026,070 shares of the company’s stock traded hands, compared to its average volume of 3,639,543. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The stock has a market capitalization of $180.17 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.79 and a beta of 0.71. The firm has a fifty day moving average of $261.68 and a two-hundred day moving average of $278.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.63 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Monday, June 3rd were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.67%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Activity at McDonald’s

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 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 legal filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock valued at $1,472,518 in the last three months. Company insiders own 0.23% of the company’s stock.

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.