McDonald's Corporation $MCD Stake Reduced by Iron Gate Global Advisors LLC

Key Points

• Iron Gate Global Advisors LLC reduced its stake in McDonald's Corporation by 41.1%, selling 2,422 shares and lowering its holdings to 3,471 shares.
• Several institutional investors have increased their positions, with BOS Asset Management LLC raising its holdings by 8.9% and MBL Wealth LLC increasing theirs by 70.9%.
• McDonald's recently announced a quarterly dividend of $1.77 per share, reflecting a 2.3% yield on an annualized basis.

Iron Gate Global Advisors LLC decreased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 41.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,471 shares of the fast-food giant's stock after selling 2,422 shares during the quarter. Iron Gate Global Advisors LLC's holdings in McDonald's were worth $1,084,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MCD. Vanguard Group Inc. lifted its position in shares of McDonald's by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after purchasing an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in McDonald's by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares during the last quarter. Northern Trust Corp increased its stake in McDonald's by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock valued at $2,800,447,000 after purchasing an additional 97,966 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of McDonald's by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant's stock worth $1,606,354,000 after acquiring an additional 123,454 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in McDonald's by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant's stock valued at $1,454,963,000 after buying an additional 504,085 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

McDonald's stock traded up $1.68 during midday trading on Tuesday, hitting $303.75. 1,177,706 shares of the company were exchanged, compared to its average volume of 3,525,448. The company's fifty day moving average price is $305.50 and its 200-day moving average price is $306.53. The company has a market cap of $216.76 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 3.11 and a beta of 0.50. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald's's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 EPS. On average, analysts expect that McDonald's Corporation will post 12.25 EPS 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 $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 is Tuesday, September 2nd. McDonald's's dividend payout ratio is presently 60.67%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Guggenheim reiterated a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Piper Sandler boosted their target price on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. TD Securities restated a "hold" rating and issued a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. Finally, Truist Financial lifted their price target on McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Eleven equities research 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. According to data from MarketBeat, McDonald's has an average rating of "Hold" and a consensus target price of $325.14.

Insiders Place Their Bets

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares of the company's stock, valued at $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,341 shares of company stock valued at $2,544,327. Company insiders own 0.25% of the company's stock.

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.