Associated Banc Corp Cuts Stock Holdings in McDonald's Corporation (NYSE:MCD)

Key Points

• Associated Banc Corp reduced its holdings in McDonald's Corporation by 1.6%, selling 1,599 shares and ending the first quarter with 101,033 shares valued at approximately $31.56 million.
• McDonald's announced a quarterly dividend of $1.77 per share, equating to an annualized dividend of $7.08 and a yield of 2.3%, with the payment scheduled for September 16th.
• Analysts have mixed ratings on McDonald's stock, with two sell ratings, thirteen hold ratings, and thirteen buy ratings, averaging a target price of $323.39.

Associated Banc Corp reduced its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,033 shares of the fast-food giant's stock after selling 1,599 shares during the quarter. Associated Banc Corp's holdings in McDonald's were worth $31,560,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MCD. Granite Bay Wealth Management LLC boosted its stake in McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after buying an additional 33 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC boosted its position in McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after buying an additional 33 shares during the period. Security Financial Services INC. grew its stake in shares of McDonald's by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after buying an additional 33 shares during the last quarter. Finally, Northeast Financial Consultants Inc increased its holdings in shares of McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after buying an additional 34 shares during the period. Institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

NYSE MCD traded up $0.24 during trading hours on Thursday, hitting $307.90. The company's stock had a trading volume of 3,600,765 shares, compared to its average volume of 3,770,135. McDonald's Corporation has a 12 month low of $265.33 and a 12 month high of $326.32. The company's 50 day simple moving average is $298.73 and its two-hundred day simple moving average is $304.17. The company has a market cap of $220.16 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 206.70%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.97 EPS. As a group, research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,280 shares of company stock worth $2,215,178. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Melius initiated coverage on McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 price target on the stock. Citigroup lifted their target price on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. TD Securities reissued a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research note on Thursday, June 5th. Bank of America lowered their price target on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $335.00 price target (up previously from $325.00) on shares of McDonald's in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, McDonald's currently has an average rating of "Hold" and a consensus target price of $326.00.

McDonald's Company 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.