McDonald's Corporation (NYSE:MCD) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in McDonald's Corporation by selling 71,637 shares, now holding 894,943 shares worth approximately $279.55 million.
• Several institutional investors increased their stakes in McDonald's, with Passive Capital Management LLC notably increasing its stake by 156.2%.
• McDonald's announced a quarterly dividend of $1.77 per share, with an annual dividend yield of 2.37%, to be paid on September 16th.

Mackenzie Financial Corp lowered its position in McDonald's Corporation (NYSE:MCD - Free Report) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 894,943 shares of the fast-food giant's stock after selling 71,637 shares during the period. Mackenzie Financial Corp owned about 0.13% of McDonald's worth $279,553,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Red Door Wealth Management LLC raised its position in McDonald's by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after acquiring an additional 109 shares during the period. Aviva PLC lifted its position in McDonald's by 5.6% during the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock valued at $125,350,000 after purchasing an additional 23,024 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after purchasing an additional 18,393 shares during the period. Sagespring Wealth Partners LLC raised its stake in shares of McDonald's by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after buying an additional 3,212 shares during the period. Finally, Segment Wealth Management LLC lifted its position in shares of McDonald's by 1.7% during 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 buying an additional 937 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCD shares. Barclays raised their target price on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Morgan Stanley upped their target price on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. BMO Capital Markets reissued an "outperform" rating and set a $345.00 price target (up from $340.00) on shares of McDonald's in a report on Monday, May 5th. Finally, Robert W. Baird upped their price objective on McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $323.39.

Insider Activity at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock valued at $1,147,992 in the last ninety days. Corporate insiders own 0.25% of the company's stock.

McDonald's Stock Performance

MCD traded down $1.97 during trading on Thursday, hitting $301.64. 1,278,795 shares of the stock were exchanged, compared to its average volume of 3,579,977. The firm has a 50 day simple moving average of $299.96 and a 200 day simple moving average of $303.25. The firm has a market cap of $215.68 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.17 and a beta of 0.53. McDonald's Corporation has a 1 year low of $262.40 and a 1 year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The business's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities analysts anticipate 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 given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is 62.49%.

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.