McDonald's Corporation $MCD Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC. reduced its stake in McDonald's by 5.2% in Q1, selling 33,739 shares, leaving them with 620,737 shares valued at $193.9 million.
• McDonald's reported a Q2 EPS of $3.19, exceeding estimates, and a revenue of $6.84 billion, up 5.4% year-over-year.
• The company announced a quarterly dividend of $1.77, payable on September 16th, representing an annualized yield of 2.3%.

First Manhattan CO. LLC. trimmed its position in McDonald's Corporation (NYSE:MCD - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 620,737 shares of the fast-food giant's stock after selling 33,739 shares during the period. First Manhattan CO. LLC. owned 0.09% of McDonald's worth $193,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GW Henssler & Associates Ltd. grew its stake in shares of McDonald's by 3.8% during the 1st quarter. GW Henssler & Associates Ltd. now owns 47,551 shares of the fast-food giant's stock worth $14,854,000 after purchasing an additional 1,730 shares during the period. 1248 Management LLC acquired a new stake in shares of McDonald's during the 1st quarter worth approximately $33,000. Beck Mack & Oliver LLC grew its position in shares of McDonald's by 73.1% during the 1st quarter. Beck Mack & Oliver LLC now owns 2,155 shares of the fast-food giant's stock valued at $673,000 after acquiring an additional 910 shares during the period. ICW Investment Advisors LLC grew its position in shares of McDonald's by 0.6% during the 1st quarter. ICW Investment Advisors LLC now owns 10,087 shares of the fast-food giant's stock valued at $3,151,000 after acquiring an additional 60 shares during the period. Finally, Benchstone Capital Management LP grew its position in shares of McDonald's by 1.2% during the 1st quarter. Benchstone Capital Management LP now owns 73,240 shares of the fast-food giant's stock valued at $22,878,000 after acquiring an additional 835 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the business'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 directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,341 shares of company stock worth $2,544,327 in the last ninety days. 0.25% of the stock is owned by company insiders.

McDonald's Price Performance

Shares of MCD stock traded down $2.69 during trading on Friday, hitting $314.30. 2,533,016 shares of the stock traded hands, compared to its average volume of 2,961,695. The firm has a market capitalization of $224.28 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The firm's fifty day moving average price is $303.87 and its 200-day moving average price is $306.45. 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 issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating 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 revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald's's payout ratio is presently 60.67%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price on McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Truist Financial lifted their price objective on McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. KeyCorp restated an "overweight" rating and issued a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. TD Cowen raised 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. Finally, Piper Sandler raised their price objective on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $325.35.

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.