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CCLA Investment Management Sells 50,004 Shares of McDonald's Corporation (NYSE:MCD)

McDonald's logo with Retail/Wholesale background

Key Points

  • CCLA Investment Management reduced its stake in McDonald's by 11.9%, selling 50,004 shares, and now holds approximately $115.9 million worth of shares in the company.
  • Several analysts have given mixed ratings for McDonald's stock, with Goldman Sachs upgrading it to a "buy" rating and a price target of $345, while others set lower targets or hold ratings.
  • McDonald's recently declared a quarterly dividend of $1.77 per share, with an annualized dividend yield of 2.3%, scheduled for payment on September 16th.
  • Interested in McDonald's? Here are five stocks we like better.

CCLA Investment Management trimmed its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,229 shares of the fast-food giant's stock after selling 50,004 shares during the quarter. McDonald's makes up about 2.1% of CCLA Investment Management's investment portfolio, making the stock its 24th biggest position. CCLA Investment Management owned 0.05% of McDonald's worth $115,901,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in McDonald's during the fourth quarter worth about $25,000. Pinney & Scofield Inc. bought a new stake in McDonald's during the fourth quarter worth about $29,000. GKV Capital Management Co. Inc. bought a new stake in McDonald's during the fourth quarter worth about $30,000. Abound Financial LLC bought a new stake in McDonald's during the first quarter worth about $30,000. Finally, Copia Wealth Management bought a new stake in McDonald's during the fourth quarter worth about $31,000. 70.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCD. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised shares of 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. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Melius initiated coverage on shares of McDonald's in a research note on Monday, July 14th. They set a "sell" rating and a $250.00 price target on the stock. Finally, Bank of America decreased their price target on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $323.39.

Get Our Latest Report on MCD

Insiders Place Their Bets

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,817 shares of company stock worth $1,147,992. 0.25% of the stock is currently owned by insiders.

McDonald's Stock Up 0.9%

McDonald's stock opened at $302.88 on Friday. The stock has a market capitalization of $216.57 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.17 and a beta of 0.52. McDonald's Corporation has a twelve month low of $265.33 and a twelve month high of $326.32. The company has a 50 day moving average of $299.44 and a 200-day moving average of $303.66.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 earnings per share. Equities analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is currently 62.49%.

McDonald's Company Profile

(Free Report)

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.

Further Reading

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).

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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.

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