McDonald's Corporation $MCD Shares Sold by Ieq Capital LLC

Key Points

• Ieq Capital LLC has reduced its stake in McDonald's shares by 23.7%, selling 8,554 shares and holding 27,594 shares worth approximately $8.6 million.
• McDonald's reported a quarterly earnings per share of $3.19, surpassing analysts' expectations and achieving a revenue of $6.84 billion, a 5.4% increase from the previous year.
• The company declared a quarterly dividend of $1.77, set to be paid on September 16th, with a current annualized dividend yield of 2.3%.

Ieq Capital LLC lessened its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 23.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,594 shares of the fast-food giant's stock after selling 8,554 shares during the period. Ieq Capital LLC's holdings in McDonald's were worth $8,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC grew its holdings in McDonald's by 0.9% during the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after acquiring an additional 32 shares in the last quarter. Granite Bay Wealth Management LLC boosted its holdings in shares of McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after buying an additional 33 shares in the last quarter. CVA Family Office LLC boosted its holdings in shares of McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC boosted its holdings in shares of 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 buying an additional 33 shares in the last quarter. Finally, Security Financial Services INC. boosted its holdings in shares of 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. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Price Performance

McDonald's stock opened at $311.52 on Thursday. McDonald's Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a market capitalization of $222.30 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.19 and a beta of 0.52. The firm's 50-day moving average is $300.22 and its two-hundred day moving average is $306.14.

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

McDonald's Announces Dividend

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

Insider Activity at McDonald's

In related news, CMO Edith Morgan Flatley sold 976 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $303.50, for a total value of $296,216.00. Following the sale, the chief marketing officer directly owned 7,882 shares of the company's stock, valued at approximately $2,392,187. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,341 shares of company stock valued at $2,229,327 over the last three months. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "hold" rating in a research note on Friday, August 22nd. BMO Capital Markets reissued an "outperform" rating and issued a $350.00 price objective (up from $345.00) on shares of McDonald's in a research note on Thursday, August 7th. KeyCorp reissued 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. Finally, Bank of America lowered their price objective on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Thirteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $326.38.

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.

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