KBC Group NV Sells 24,711 Shares of McDonald's Corporation (NYSE:MCD)

KBC Group NV lessened its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 14.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 144,837 shares of the fast-food giant's stock after selling 24,711 shares during the period. KBC Group NV's holdings in McDonald's were worth $45,243,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Aviva PLC lifted its stake in McDonald's by 5.6% in the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock valued at $125,350,000 after buying an additional 23,024 shares during the period. Segment Wealth Management LLC increased its stake in shares of McDonald's by 1.7% in the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock valued at $17,078,000 after acquiring an additional 937 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in shares of McDonald's by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock valued at $5,381,000 after acquiring an additional 3,212 shares during the period. Great Waters Wealth Management bought a new position in McDonald's during the 1st quarter worth approximately $864,000. Finally, Blue Trust Inc. grew its holdings in McDonald's by 13.0% during the first quarter. Blue Trust Inc. now owns 15,449 shares of the fast-food giant's stock valued at $4,826,000 after purchasing an additional 1,775 shares during the period. Institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of MCD opened at $291.94 on Monday. The firm has a 50 day moving average price of $308.26 and a 200-day moving average price of $302.52. McDonald's Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The firm has a market cap of $208.74 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.04 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts' consensus estimates of $2.67. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald's's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. As a group, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. McDonald's's payout ratio is 62.49%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley reiterated an "equal weight" rating and issued a $324.00 target price (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. TD Securities reaffirmed a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Barclays increased their price target on McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Truist Financial set a $350.00 price objective on McDonald's in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and a consensus target price of $321.79.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider now owns 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is currently owned by corporate insiders.

McDonald's 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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