McDonald's Corporation (NYSE:MCD) Stock Position Trimmed by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in McDonald's by 4.1%, now holding 2,492,667 shares valued at approximately $778.6 million.
• Insider transactions included CMO Edith Morgan Flatley selling 1,000 shares and Joseph M. Erlinger selling 939 shares, indicating a 10.14% and 9.19% reduction in their holdings, respectively.
• McDonald's announced a quarterly dividend of $1.77, translating to an annualized dividend of $7.08, with a payout ratio of 62.49%.

Deutsche Bank AG cut its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,492,667 shares of the fast-food giant's stock after selling 106,923 shares during the period. Deutsche Bank AG owned about 0.35% of McDonald's worth $778,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald's during the fourth quarter worth about $25,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald's during the fourth quarter worth about $29,000. GKV Capital Management Co. Inc. acquired a new position in shares of McDonald's during the fourth quarter worth about $30,000. Abound Financial LLC acquired a new position in shares of McDonald's during the first quarter worth about $30,000. Finally, Copia Wealth Management acquired a new position in shares of McDonald's during the fourth quarter worth about $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MCD shares. TD Cowen boosted their price target on shares of McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday. KeyCorp reiterated an "overweight" rating and issued a $335.00 price target (up from $325.00) on shares of McDonald's in a research report on Thursday. Redburn Atlantic reissued a "sell" rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. Truist Financial increased their price target on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Bank of America cut their target price 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 investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $326.87.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,280 shares of company stock worth $2,215,178 over the last quarter. 0.25% of the stock is owned by company insiders.

McDonald's Stock Performance

Shares of McDonald's stock traded down $2.29 during trading hours on Friday, reaching $305.62. The company's stock had a trading volume of 2,621,959 shares, compared to its average volume of 3,681,905. McDonald's Corporation has a one year low of $265.33 and a one year high of $326.32. The company's 50 day simple moving average is $298.57 and its 200 day simple moving average is $304.33. The stock has a market cap of $218.09 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 3.21 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald's's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.97 earnings per share. On average, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

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