Allspring Global Investments Holdings LLC Sells 1,654 Shares of McDonald's Corporation (NYSE:MCD)

Allspring Global Investments Holdings LLC lowered its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,362 shares of the fast-food giant's stock after selling 1,654 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in McDonald's were worth $58,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in MCD. Aviva PLC boosted its position in shares of McDonald's by 5.6% during the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock valued at $125,350,000 after acquiring an additional 23,024 shares during the last quarter. Segment Wealth Management LLC boosted its stake in McDonald's by 1.7% in the first quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock worth $17,078,000 after buying an additional 937 shares in the last quarter. Sagespring Wealth Partners LLC boosted its stake in McDonald's by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after buying an additional 3,212 shares in the last quarter. Great Waters Wealth Management purchased a new stake in McDonald's in the first quarter worth approximately $864,000. Finally, Blue Trust Inc. boosted its stake in McDonald's by 13.0% in the first quarter. Blue Trust Inc. now owns 15,449 shares of the fast-food giant's stock worth $4,826,000 after buying an additional 1,775 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MCD shares. Barclays boosted their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Citigroup upped their price target on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $345.00 price target (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $321.79.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald'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 sale, the insider now owns 11,161 shares of the company's stock, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,817 shares of company stock valued at $865,843 over the last quarter. 0.25% of the stock is currently owned by company insiders.

McDonald's Stock Performance

Shares of NYSE:MCD opened at $291.94 on Monday. The stock's 50-day simple moving average is $308.26 and its two-hundred day simple moving average is $302.52. McDonald's Corporation has a 52-week low of $243.53 and a 52-week high of $326.32. The stock has a market capitalization of $208.74 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.04 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS 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 firm 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 company earned $2.70 earnings per share. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

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.

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