E. Ohman J or Asset Management AB Sells 1,390 Shares of McDonald's Corporation $MCD

Key Points

• E. Ohman J or Asset Management AB reduced its holdings in McDonald's by 4.4% in Q2, now owning 29,880 shares valued at $8.73 million.
• McDonald's reported a quarterly EPS of $3.19, exceeding analysts' expectations of $3.15, and its revenue increased by 5.4% year-over-year to $6.84 billion.
• The company declared a quarterly dividend of $1.77 per share, which will be paid on September 16, 2023, reflecting an annual yield of 2.3%.

E. Ohman J or Asset Management AB lowered its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,880 shares of the fast-food giant's stock after selling 1,390 shares during the quarter. E. Ohman J or Asset Management AB's holdings in McDonald's were worth $8,730,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MCD. WealthPlan Investment Management LLC boosted its position in shares of McDonald's by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock valued at $1,134,000 after acquiring an additional 32 shares during the period. Granite Bay Wealth Management LLC raised its stake in McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after acquiring an additional 33 shares in the last quarter. CVA Family Office LLC increased its stake in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC boosted its holdings in McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after acquiring an additional 33 shares during the last quarter. Finally, Security Financial Services INC. boosted its holdings in McDonald's by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after buying an additional 33 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,341 shares of company stock worth $2,544,327. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent analyst reports. KeyCorp reiterated an "overweight" rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Bank of America dropped their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. TD Cowen lifted their target price on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research report on Wednesday, August 6th. Barclays lifted their target price on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets lifted their target price on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $325.86.

McDonald's Price Performance

NYSE MCD traded up $1.02 on Friday, reaching $302.16. The stock had a trading volume of 1,997,142 shares, compared to its average volume of 3,531,264. The firm has a fifty day moving average of $306.01 and a two-hundred day moving average of $306.47. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The company has a market cap of $215.62 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 3.11 and a beta of 0.50.

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

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's dividend payout ratio is presently 60.67%.

About McDonald's

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.