St. Johns Investment Management Company LLC Sells 409 Shares of McDonald’s Co. (NYSE:MCD)

St. Johns Investment Management Company LLC trimmed its stake in McDonald’s Co. (NYSE:MCD) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,170 shares of the fast-food giant’s stock after selling 409 shares during the quarter. McDonald’s accounts for 1.0% of St. Johns Investment Management Company LLC’s portfolio, making the stock its 29th biggest holding. St. Johns Investment Management Company LLC’s holdings in McDonald’s were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA lifted its holdings in shares of McDonald’s by 1.7% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after purchasing an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC lifted its holdings in shares of McDonald’s by 12.2% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after purchasing an additional 114 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of McDonald’s during the fourth quarter valued at $4,286,000. Strait & Sound Wealth Management LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $211,000. Finally, First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of McDonald’s by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after purchasing an additional 301 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’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 value of $291,377.87. Following the completion of the transaction, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

NYSE MCD opened at $257.83 on Thursday. The stock has a market capitalization of $185.81 billion, a PE ratio of 21.89, a P/E/G ratio of 2.90 and a beta of 0.71. The business has a 50 day simple moving average of $264.15 and a two-hundred day simple moving average of $279.82. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.63 EPS. On average, analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCD. Morgan Stanley lowered their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Wedbush lowered their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. BMO Capital Markets lowered their target price on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Finally, 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 research note on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.14.

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.