BI Asset Management Fondsmaeglerselskab A S Decreases Position in McDonald's Corporation $MCD

Key Points

• BI Asset Management Fondsmaeglerselskab A S decreased its position in McDonald's by 17.1%, reducing its holdings to 24,087 shares valued at approximately $7.52 million.
• McDonald's recently announced a quarterly dividend of $1.77 per share, with a payout date of September 16th, representing an annualized yield of 2.3%.
• Guggenheim and Citigroup have made recent changes to their ratings and price targets for McDonald's, with Citigroup raising its target to $365.00 and Guggenheim rating it as neutral.

BI Asset Management Fondsmaeglerselskab A S decreased its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,087 shares of the fast-food giant's stock after selling 4,977 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in McDonald's were worth $7,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Legacy Financial Advisors Inc. boosted its position in shares of McDonald's by 9.1% in the first quarter. Legacy Financial Advisors Inc. now owns 5,433 shares of the fast-food giant's stock worth $1,697,000 after buying an additional 453 shares during the period. Texas Capital Bancshares Inc TX boosted its position in shares of McDonald's by 4.6% in the first quarter. Texas Capital Bancshares Inc TX now owns 2,168 shares of the fast-food giant's stock worth $677,000 after buying an additional 96 shares during the period. Texas Capital Bank Wealth Management Services Inc boosted its position in shares of McDonald's by 28.1% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,590 shares of the fast-food giant's stock worth $1,121,000 after buying an additional 787 shares during the period. GSG Advisors LLC purchased a new stake in shares of McDonald's in the first quarter worth about $205,000. Finally, Edgar Lomax Co. VA purchased a new stake in shares of McDonald's in the first quarter worth about $32,376,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,280 shares of company stock valued at $2,525,178 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Trading Up 0.6%

MCD opened at $310.6130 on Wednesday. The stock has a market cap of $221.65 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.15 and a beta of 0.52. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock has a fifty day moving average price of $298.34 and a 200 day moving average price of $305.35.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 earnings per share. As a group, sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on MCD shares. Guggenheim reiterated a "neutral" rating on shares of McDonald's in a research note on Friday, August 8th. Citigroup boosted their price target on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research note on Thursday, July 10th. TD Securities reiterated a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Finally, Bank of America cut their price target on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Thirteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $326.87.

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.

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