Agate Pass Investment Management LLC Lowers Holdings in McDonald’s Co. (NYSE:MCD)

Agate Pass Investment Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 973 shares of the fast-food giant’s stock after selling 50 shares during the quarter. Agate Pass Investment Management LLC’s holdings in McDonald’s were worth $304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mascagni Wealth Management Inc. purchased a new stake in McDonald’s during the 4th quarter valued at about $25,000. Atala Financial Inc bought a new stake in McDonald’s during the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s during the 4th quarter valued at about $27,000. Collier Financial bought a new stake in McDonald’s during the 4th quarter valued at about $29,000. Finally, Pinney & Scofield Inc. bought a new stake in McDonald’s during the 4th quarter valued at about $29,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on MCD shares. TD Securities restated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Monday, February 10th. BMO Capital Markets restated an “outperform” rating and set a $345.00 price objective (up from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research report on Tuesday, April 22nd. Morgan Stanley decreased their target price on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Finally, Northcoast Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $325.91.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the sale, the insider now directly owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Down 0.3%

NYSE MCD opened at $311.82 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The firm has a market capitalization of $222.96 billion, a P/E ratio of 27.38, a PEG ratio of 3.10 and a beta of 0.57. The company has a 50-day moving average price of $312.27 and a 200-day moving average price of $301.89.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio is 62.49%.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.