Guggenheim Capital LLC Sells 3,965 Shares of McDonald's Corporation $MCD

Key Points

• Guggenheim Capital LLC reduced its holdings in McDonald's by 2.4%, selling 3,965 shares, leaving them with 163,189 shares valued at approximately $50.98 million.
• McDonald's reported better-than-expected earnings with $3.19 earnings per share for the latest quarter, surpassing analysts' estimates by $0.04 and showing a year-over-year revenue increase of 5.4%.
• The company declared a quarterly dividend of $1.77 per share, equating to an annualized dividend of $7.08 and a yield of 2.3%, which will be paid to shareholders of record on September 2nd.

Guggenheim Capital LLC lowered its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,189 shares of the fast-food giant's stock after selling 3,965 shares during the quarter. Guggenheim Capital LLC's holdings in McDonald's were worth $50,975,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in McDonald's during the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. acquired a new position in McDonald's during the fourth quarter worth $29,000. Abound Financial LLC acquired a new position in McDonald's during the first quarter worth $30,000. Copia Wealth Management acquired a new position in McDonald's during the fourth quarter worth $31,000. Finally, Redmont Wealth Advisors LLC bought a new stake in McDonald's during the first quarter worth $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Stock Down 0.1%

Shares of McDonald's stock opened at $313.14 on Wednesday. The company has a market capitalization of $223.46 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.19 and a beta of 0.52. McDonald's Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm's 50-day moving average price is $299.77 and its two-hundred day moving average price is $306.10.

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

McDonald's Dividend Announcement

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

Insider Activity at McDonald's

In related news, EVP Jonathan Banner sold 1,000 shares of McDonald'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 transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 976 shares of McDonald'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 transaction of $296,216.00. Following the sale, the chief marketing officer owned 7,882 shares in the company, valued at approximately $2,392,187. This represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on MCD. Northcoast Research lowered shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. TD Cowen raised their price target on shares of McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Evercore ISI boosted their price objective on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Guggenheim restated a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. Finally, Piper Sandler increased their target price on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a research report 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 issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $326.38.

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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