Boyar Asset Management Inc. Cuts Stock Position in McDonald’s Corporation (NYSE:MCD)

Boyar Asset Management Inc. decreased its position in shares of McDonald’s Corporation (NYSE:MCD) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,345 shares of the fast-food giant’s stock after selling 836 shares during the period. McDonald’s accounts for 1.2% of Boyar Asset Management Inc.’s holdings, making the stock its 19th biggest position. Boyar Asset Management Inc.’s holdings in McDonald’s were worth $1,670,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sabal Trust CO boosted its holdings in McDonald’s by 0.5% in the first quarter. Sabal Trust CO now owns 98,396 shares of the fast-food giant’s stock worth $30,736,000 after acquiring an additional 517 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of McDonald’s by 14.5% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 607 shares of the fast-food giant’s stock valued at $190,000 after purchasing an additional 77 shares during the last quarter. Nova R Wealth Inc. boosted its stake in McDonald’s by 8.7% in the 1st quarter. Nova R Wealth Inc. now owns 1,255 shares of the fast-food giant’s stock worth $392,000 after purchasing an additional 100 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in McDonald’s by 16.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 78,950 shares of the fast-food giant’s stock worth $24,662,000 after purchasing an additional 11,129 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in McDonald’s by 4.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 118,423 shares of the fast-food giant’s stock worth $36,992,000 after purchasing an additional 5,538 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Down 2.0%

NYSE MCD opened at $285.78 on Thursday. The stock has a market capitalization of $204.34 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 3.04 and a beta of 0.56. The stock has a 50-day moving average of $309.13 and a 200 day moving average of $302.60. McDonald’s Corporation has a twelve month low of $243.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the company posted $2.70 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MCD shares. Piper Sandler raised their price target on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Redburn Atlantic reissued a “sell” rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $324.00 target price (down previously from $329.00) on shares of McDonald’s in a report on Monday, June 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $321.79.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’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 completion of the sale, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,817 shares of company stock valued at $865,843 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.