McDonald's Corporation $MCD Shares Sold by Bank Hapoalim BM

Key Points

• Bank Hapoalim BM reduced its stake in McDonald's Corporation by 65.7%, holding 999 shares worth approximately $292,000 after selling 1,912 shares in the second quarter.
• Insider Jonathan Banner sold 1,000 shares of McDonald's at an average price of $310.00, which represents a significant decrease in his overall ownership of the stock.
• McDonald's declared a quarterly dividend of $1.77 per share, with a dividend yield of 2.4%, reflecting a robust dividend payout ratio of 60.67%.

Bank Hapoalim BM trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 65.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 999 shares of the fast-food giant's stock after selling 1,912 shares during the period. Bank Hapoalim BM's holdings in McDonald's were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. HFM Investment Advisors LLC acquired a new stake in McDonald's in the 1st quarter worth about $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald's in the 1st quarter worth about $26,000. Abound Financial LLC acquired a new stake in McDonald's in the 1st quarter worth about $30,000. Redmont Wealth Advisors LLC acquired a new stake in McDonald's in the 1st quarter worth about $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald's in the 1st quarter worth about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 1,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was 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 approximately $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the company'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 directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,402 shares of company stock valued at $2,273,407. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCD. Redburn Atlantic reaffirmed a "sell" rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald's in a research note on Tuesday, June 10th. KeyCorp reaffirmed an "overweight" rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Evercore ISI lifted their price objective on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Piper Sandler lifted their price objective on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Morgan Stanley lifted their price objective on McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $325.86.

McDonald's Stock Performance

Shares of NYSE:MCD opened at $300.72 on Friday. The company has a market cap of $214.59 billion, a P/E ratio of 25.77, a PEG ratio of 3.05 and a beta of 0.50. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The business's 50-day simple moving average is $306.93 and its 200 day simple moving average is $306.17.

McDonald's (NYSE:MCD - Get Free Report) last announced its 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. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The company's revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $2.97 EPS. Analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

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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