Cassia Capital Partners LLC Purchases 499 Shares of McDonald’s Corporation (NYSE:MCD)

Cassia Capital Partners LLC raised its position in shares of McDonald’s Corporation (NYSE:MCD) by 16.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,484 shares of the fast-food giant’s stock after acquiring an additional 499 shares during the quarter. Cassia Capital Partners LLC’s holdings in McDonald’s were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Atticus Wealth Management LLC grew its holdings in McDonald’s by 13.2% during the first quarter. Atticus Wealth Management LLC now owns 2,688 shares of the fast-food giant’s stock valued at $840,000 after purchasing an additional 313 shares during the period. Guyasuta Investment Advisors Inc. grew its holdings in McDonald’s by 1.1% during the first quarter. Guyasuta Investment Advisors Inc. now owns 105,420 shares of the fast-food giant’s stock valued at $32,930,000 after purchasing an additional 1,162 shares during the period. North Point Portfolio Managers Corp OH boosted its holdings in shares of McDonald’s by 37.2% in the first quarter. North Point Portfolio Managers Corp OH now owns 2,543 shares of the fast-food giant’s stock worth $794,000 after acquiring an additional 689 shares during the period. Synergy Asset Management LLC boosted its holdings in shares of McDonald’s by 42.0% in the first quarter. Synergy Asset Management LLC now owns 3,261 shares of the fast-food giant’s stock worth $1,019,000 after acquiring an additional 964 shares during the period. Finally, Heartland Bank & Trust Co boosted its holdings in shares of McDonald’s by 17.1% in the first quarter. Heartland Bank & Trust Co now owns 2,077 shares of the fast-food giant’s stock worth $649,000 after acquiring an additional 303 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the sale, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 1.0%

NYSE MCD opened at $286.75 on Friday. The stock’s 50-day simple moving average is $310.55 and its two-hundred day simple moving average is $302.84. McDonald’s Corporation has a twelve month low of $243.53 and a twelve month high of $326.32. The company has a market capitalization of $205.04 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.00 and a beta of 0.56.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter last year, the business posted $2.70 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.47%. McDonald’s’s payout ratio is 62.49%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCD. Northcoast Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Robert W. Baird raised their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Piper Sandler raised their price target on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Finally, Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and an average target price of $321.79.

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.