Conning Inc. Sells 4,660 Shares of McDonald's Corporation $MCD

Key Points

• Conning Inc. has reduced its stake in McDonald's Corporation by 4.0%, selling 4,660 shares and owning a total of 112,063 shares valued at $32.74 million.
• Several analysts have upgraded their ratings for McDonald's, with a consensus rating of "Hold" and a target price of $325.18.
• McDonald's recently declared a quarterly dividend of $1.77 per share, resulting in an annualized yield of 2.4% and a dividend payout ratio of 60.67%.

Conning Inc. lowered its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,063 shares of the fast-food giant's stock after selling 4,660 shares during the period. Conning Inc.'s holdings in McDonald's were worth $32,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. HFM Investment Advisors LLC purchased a new stake in McDonald's during the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald's during the first quarter worth $26,000. GFG Capital LLC purchased a new stake in McDonald's during the second quarter worth $29,000. Abound Financial LLC purchased a new stake in McDonald's during the first quarter worth $30,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in McDonald's during the first quarter worth $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

MCD has been the subject of several analyst reports. The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. Guggenheim decreased their price objective on McDonald's from $310.00 to $295.00 and set a "neutral" rating for the company in a report on Friday. Truist Financial increased their price objective on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Citigroup increased their price objective on McDonald's from $373.00 to $381.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Finally, TD Cowen increased their price objective on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $325.18.

McDonald's Price Performance

Shares of MCD stock opened at $297.07 on Friday. The firm has a market capitalization of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. The business has a fifty day moving average of $306.31 and a 200 day moving average of $305.79. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

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

McDonald's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is currently 60.67%.

Insider Buying and Selling

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company's stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock valued at $1,973,407 over the last quarter. 0.25% of the stock is currently owned by company insiders.

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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