ING Groep NV Reduces Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• ING Groep NV significantly reduced its holdings in McDonald's, lowering its position by 95.5% during the 1st quarter, ending with shares valued at $2.95 million.
• McDonald's announced a quarterly dividend of $1.77 per share, with an ex-dividend date set for September 2nd, which translates to an annual yield of 2.4%.
• Analysts show a mix of ratings with two sell ratings, thirteen hold ratings, and thirteen buy ratings, with a consensus price target of $323.39.

ING Groep NV lessened its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 95.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,458 shares of the fast-food giant's stock after selling 201,328 shares during the quarter. ING Groep NV's holdings in McDonald's were worth $2,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MCD. Granite Bay Wealth Management LLC raised its position in shares of McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC lifted its holdings in McDonald's by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in McDonald's by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after purchasing an additional 33 shares during the period. Security Financial Services INC. grew its holdings in McDonald's by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after buying an additional 33 shares in the last quarter. Finally, Northeast Financial Consultants Inc boosted its position in shares of McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after acquiring an additional 34 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price objective on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday. Melius assumed coverage on McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price target on the stock. Morgan Stanley upped their price objective on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. 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. Finally, Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, McDonald's currently has a consensus rating of "Hold" and a consensus price target of $326.87.

McDonald's Stock Performance

McDonald's stock traded down $2.29 during midday trading on Friday, hitting $305.62. 2,621,959 shares of the company were exchanged, compared to its average volume of 3,681,905. McDonald's Corporation has a fifty-two week low of $265.33 and a fifty-two week high of $326.32. The firm has a market capitalization of $218.09 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 3.21 and a beta of 0.52. The business has a fifty day simple moving average of $298.57 and a two-hundred day simple moving average of $304.33.

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 company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the business earned $2.97 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

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

Insider Activity

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The sale 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 firm's stock in a transaction that occurred on 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 transaction, 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 7,280 shares of company stock worth $2,215,178 in the last quarter. Corporate insiders own 0.25% of the company's stock.

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.