BNP Paribas Sells 11,552 Shares of McDonald's Corporation $MCD

Key Points

• BNP Paribas cut its McDonald’s stake by 33% in the fourth quarter, selling 11,552 shares and leaving it with 23,451 shares valued at about $7.17 million.
• McDonald’s continues to draw mixed but generally cautious analyst sentiment: the stock has a consensus rating of Hold with an average target price of $334.45, though some firms recently raised or lowered their price objectives.
• The company posted solid recent results, with Q1 EPS of $2.83 beating estimates and revenue rising 9.4% year over year, while also announcing a quarterly dividend of $1.86 per share payable June 16.

BNP Paribas trimmed its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,451 shares of the fast-food giant's stock after selling 11,552 shares during the period. BNP Paribas' holdings in McDonald's were worth $7,171,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MCD. Harbour Investments Inc. lifted its stake in McDonald's by 84.4% during the fourth quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant's stock worth $10,853,000 after purchasing an additional 16,252 shares during the period. Pittenger & Anderson Inc. increased its holdings in shares of McDonald's by 21.9% during the fourth quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant's stock worth $6,567,000 after buying an additional 3,866 shares in the last quarter. North Dakota State Investment Board acquired a new stake in shares of McDonald's during the fourth quarter worth approximately $7,493,000. Schroder Investment Management Group increased its holdings in shares of McDonald's by 5.2% during the third quarter. Schroder Investment Management Group now owns 1,029,572 shares of the fast-food giant's stock worth $312,877,000 after buying an additional 51,039 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of McDonald's by 1.6% during the fourth quarter. National Pension Service now owns 1,557,348 shares of the fast-food giant's stock worth $475,972,000 after buying an additional 24,333 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Trending Headlines about McDonald's

Here are the key news stories impacting McDonald's this week:

• Positive Sentiment: McDonald’s unveiled “McDonald’s NEXT,” a companywide growth strategy focused on automation, improved restaurant design, better food quality, stronger customer service, and more effective social media marketing. Article Title
• Positive Sentiment: Analysts and recent commentary suggest McDonald’s is gaining market share in a cautious consumer environment by leaning on low-cost meals, menu innovation, and strong value marketing. Article Title
• Neutral Sentiment: McDonald’s also highlighted plans around restaurant operating efficiency and franchisee support, which could improve margins over time but will likely take time to show up in results. Article Title
• Neutral Sentiment: An executive vice president sold shares in a recent insider transaction, which is worth watching but is not necessarily a fundamental red flag on its own. Article Title

Analyst Ratings Changes

MCD has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of McDonald's from $356.00 to $370.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Wells Fargo & Company dropped their price objective on shares of McDonald's from $355.00 to $320.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Argus raised shares of McDonald's from a "hold" rating to a "buy" rating and set a $380.00 price objective for the company in a report on Friday, February 13th. Mizuho raised their price objective on shares of McDonald's from $300.00 to $325.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Finally, Evercore set a $350.00 price objective on shares of McDonald's in a report on Friday, May 8th. Sixteen equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $334.45.

Insiders Place Their Bets

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the completion of the sale, the executive vice president owned 6,268 shares of the company's stock, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 333 shares of McDonald's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $280.11, for a total transaction of $93,276.63. Following the sale, the insider directly owned 7,734 shares of the company's stock, valued at $2,166,370.74. This represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,681 shares of company stock valued at $2,631,594 in the last ninety days. Company insiders own 0.26% of the company's stock.

McDonald's Price Performance

Shares of McDonald's stock opened at $276.19 on Tuesday. The firm has a market cap of $196.23 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.78 and a beta of 0.41. The firm has a 50 day simple moving average of $294.66 and a 200 day simple moving average of $308.42. McDonald's Corporation has a fifty-two week low of $271.98 and a fifty-two week high of $341.75.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.09. McDonald's had a net margin of 31.62% and a negative return on equity of 442.10%. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same quarter last year, the business posted $2.67 earnings per share. McDonald's's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that McDonald's Corporation will post 12.93 EPS for the current year.

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. McDonald's's payout ratio is currently 61.34%.

McDonald's Profile

McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Corporation (NYSE:MCD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.