McDonald's Corporation $MCD Shares Sold by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management Inc. reduced its stake in McDonald's Corporation by 3.7%, now holding 94,402 shares valued at approximately $27.58 million.
• McDonald's recently reported earnings per share of $3.19, exceeding analyst expectations, with total revenue of $6.84 billion, representing a 5.4% increase from the previous year.
• The company declared a quarterly dividend of $1.77, resulting in a 2.3% dividend yield and a payout ratio of 60.67%.

Bridges Investment Management Inc. cut its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,402 shares of the fast-food giant's stock after selling 3,608 shares during the period. Bridges Investment Management Inc.'s holdings in McDonald's were worth $27,581,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new stake in McDonald's in the first quarter valued at $26,000. HFM Investment Advisors LLC acquired a new stake in McDonald's in the first quarter valued at $26,000. Abound Financial LLC acquired a new stake in McDonald's in the first quarter valued at $30,000. GFG Capital LLC acquired a new stake in McDonald's in the second quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in McDonald's in the first quarter valued at $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MCD. Citigroup upped their price target on shares of McDonald's from $373.00 to $381.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Bank of America dropped their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Truist Financial dropped their target price on shares of McDonald's from $360.00 to $350.00 and set a "buy" rating on the stock in a report on Tuesday. Melius started coverage on shares of McDonald's in a report on Monday, July 14th. They set a "sell" rating and a $250.00 target price on the stock. Finally, The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $324.73.

McDonald's Stock Up 0.2%

MCD stock opened at $305.04 on Thursday. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm's 50-day simple moving average is $306.29 and its 200 day simple moving average is $305.63. The stock has a market cap of $217.68 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.21 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter last year, the company earned $2.97 EPS. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued 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 of this dividend was Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is 60.67%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated 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 in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company's stock, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 in the last 90 days. 0.25% of the stock is currently owned by 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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