Evergreen Capital Management LLC Sells 1,656 Shares of McDonald's Corporation $MCD

Key Points

• Evergreen Capital Management LLC reduced its stake in McDonald's Corporation by 13.1%, selling 1,656 shares during the 1st quarter, leaving them with 10,982 shares valued at approximately $3.43 million.
• McDonald's reported a quarterly earnings per share (EPS) of $3.19, surpassing analyst expectations of $3.15, along with a revenue of $6.84 billion for the period.
• The company has announced a quarterly dividend of $1.77 per share, with an annualized yield of 2.3%, and a dividend payout ratio of 60.67%.

Evergreen Capital Management LLC lessened its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,982 shares of the fast-food giant's stock after selling 1,656 shares during the quarter. Evergreen Capital Management LLC's holdings in McDonald's were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MCD. Mascagni Wealth Management Inc. purchased a new position in McDonald's in the fourth quarter worth about $25,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald's during the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in shares of McDonald's during the first quarter valued at approximately $30,000. Copia Wealth Management purchased a new position in McDonald's in the 4th quarter worth approximately $31,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald's in the 1st quarter valued at approximately $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Stock Performance

Shares of NYSE:MCD opened at $313.68 on Friday. The stock's 50-day simple moving average is $301.22 and its two-hundred day simple moving average is $306.19. The stock has a market capitalization of $223.84 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.18 and a beta of 0.52. McDonald's Corporation has a 52-week low of $276.53 and a 52-week 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 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio is currently 60.67%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCD shares. Piper Sandler lifted their target price on McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Bank of America reduced their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Barclays boosted their target price on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, KeyCorp reiterated an "overweight" rating and issued a $335.00 price target (up from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $326.38.

Insider Buying and Selling at McDonald's

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of McDonald's stock in a transaction 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 transaction, the executive vice president owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,341 shares of company stock valued at $2,229,327 over the last three months. Insiders own 0.25% of the company's stock.

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.

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