Bank of New York Mellon Corp Decreases Holdings in McDonald's Corporation (NYSE:MCD)

Bank of New York Mellon Corp lowered its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,675,057 shares of the fast-food giant's stock after selling 128,776 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.79% of McDonald's worth $1,772,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCD. Red Door Wealth Management LLC boosted its position in shares of McDonald's by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after purchasing an additional 109 shares during the period. Aviva PLC increased its stake in McDonald's by 5.6% in the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock worth $125,350,000 after buying an additional 23,024 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after acquiring an additional 18,393 shares during the period. Segment Wealth Management LLC lifted its position in shares of 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 valued at $17,078,000 after acquiring an additional 937 shares in the last quarter. Finally, Sagespring Wealth Partners LLC boosted its stake in shares of 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 acquiring an additional 3,212 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Trading Down 0.3%

Shares of McDonald's stock traded down $0.83 on Friday, hitting $293.80. 1,678,645 shares of the company traded hands, compared to its average volume of 3,538,951. McDonald's Corporation has a 52 week low of $243.53 and a 52 week high of $326.32. The company has a market cap of $210.08 billion, a PE ratio of 25.93, a PEG ratio of 3.07 and a beta of 0.53. The stock's 50 day moving average price is $306.11 and its 200-day moving average price is $302.36.

McDonald's (NYSE:MCD - Get Free Report) last issued 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. The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.70 EPS. As a group, research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Securities reissued a "hold" rating and issued a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. Robert W. Baird upped their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Truist Financial set a $350.00 price target on shares of McDonald's in a report on Friday, May 2nd. Barclays lifted their target price on McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Piper Sandler increased their price objective on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. 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 stock. According to data from MarketBeat, McDonald's currently has a consensus rating of "Hold" and an average target price of $321.17.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares of the company's stock, valued at $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 2,817 shares of company stock worth $865,843. Company insiders own 0.25% of the company's stock.

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.