Corebridge Financial Inc. Has $49.93 Million Stock Holdings in McDonald's Corporation $MCD

Key Points

• Corebridge Financial Inc. reduced its holdings in McDonald's Corporation by 3.0%, now owning 159,832 shares valued at approximately $49.93 million.
• Insider transactions include CMO Edith Morgan Flatley and EVP Jonathan Banner selling significant shares, leading to steep decreases in their ownership stakes.
• Analysts' ratings for McDonald's vary, with 13 ratings as "Buy," 14 as "Hold," and 2 as "Sell," giving a consensus target price of $326.38.

Corebridge Financial Inc. decreased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,832 shares of the fast-food giant's stock after selling 4,870 shares during the quarter. Corebridge Financial Inc.'s holdings in McDonald's were worth $49,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCD. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's during the fourth quarter worth $25,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's during the fourth quarter worth $29,000. Abound Financial LLC acquired a new stake in shares of McDonald's during the first quarter worth $30,000. Copia Wealth Management acquired a new stake in shares of McDonald's during the fourth quarter worth $31,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of McDonald's during the first quarter worth $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 976 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $303.50, for a total value of $296,216.00. Following the sale, the chief marketing officer directly owned 7,882 shares in the company, valued at $2,392,187. This represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,341 shares of company stock valued at $2,229,327. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCD. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Bank of America dropped their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $350.00 price target (up previously from $345.00) on shares of McDonald's in a research note on Thursday, August 7th. Finally, Truist Financial lifted their target price on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $326.38.

McDonald's Trading Up 0.2%

NYSE:MCD opened at $313.8010 on Monday. The stock has a market cap of $223.93 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 3.20 and a beta of 0.52. The stock's 50-day moving average is $299.02 and its 200-day moving average is $305.92. 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 released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. The company 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 business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.97 earnings per share. As a group, equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is 60.67%.

McDonald's Company 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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