Boston Trust Walden Corp Sells 1,363 Shares of McDonald's Corporation $MCD

Key Points

• Boston Trust Walden Corp sold 1,363 shares of McDonald's, reducing its stake by 2.1% to 63,802 shares, valued at approximately $18.64 million.
• Multiple large institutional investors, including Vanguard and Goldman Sachs, have increased their holdings in McDonald's, with Goldman Sachs growing its stake by 19.6%.
• McDonald's reported a 5.4% year-over-year revenue increase, with Q2 earnings per share of $3.19, exceeding analysts' expectations.

Boston Trust Walden Corp reduced its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,802 shares of the fast-food giant's stock after selling 1,363 shares during the quarter. Boston Trust Walden Corp's holdings in McDonald's were worth $18,641,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of McDonald's by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock valued at $21,993,689,000 after purchasing an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of McDonald's by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp grew its stake in shares of McDonald's by 1.1% during the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock valued at $2,800,447,000 after purchasing an additional 97,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of McDonald's by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant's stock valued at $1,606,354,000 after purchasing an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of McDonald's by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after purchasing an additional 815,768 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCD. Truist Financial cut their price objective on McDonald's from $360.00 to $350.00 and set a "buy" rating for the company in a research note on Tuesday. Barclays boosted their price objective on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Evercore ISI boosted their price objective on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Citigroup boosted their price target on McDonald's from $373.00 to $381.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of McDonald's in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $324.73.

McDonald's Price Performance

Shares of MCD opened at $304.59 on Wednesday. The stock has a market capitalization of $217.35 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 3.16 and a beta of 0.50. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The business's 50 day simple moving average is $306.34 and its 200-day simple moving average is $305.63.

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 (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for 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 company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were 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 was Tuesday, September 2nd. McDonald's's dividend payout ratio is presently 60.67%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.