Fortitude Family Office LLC Has $809,000 Holdings in McDonald’s Co. (NYSE:MCD)

Fortitude Family Office LLC decreased its position in McDonald’s Co. (NYSE:MCD) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,591 shares of the fast-food giant’s stock after selling 1,623 shares during the quarter. Fortitude Family Office LLC’s holdings in McDonald’s were worth $809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after acquiring an additional 1,649 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of McDonald’s during the 4th quarter worth $64,805,000. Revolve Wealth Partners LLC increased its position in shares of McDonald’s by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 52 shares during the period. Sovran Advisors LLC acquired a new position in McDonald’s in the fourth quarter valued at about $520,000. Finally, Quent Capital LLC raised its stake in McDonald’s by 8.2% in the fourth quarter. Quent Capital LLC now owns 3,321 shares of the fast-food giant’s stock valued at $963,000 after purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $301.93 on Thursday. The stock’s 50-day moving average is $311.84 and its 200 day moving average is $302.83. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The firm has a market cap of $215.89 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.10 and a beta of 0.56.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 EPS. On average, sell-side analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 62.49%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Northcoast Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. 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 report on Monday, May 5th. Piper Sandler lifted their price target on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $321.79.

About McDonald’s

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.