McDonald's Corporation (NYSE:MCD) Shares Sold by Dearborn Partners LLC

Key Points

• Dearborn Partners LLC reduced its stake in McDonald's by 13.7% during the first quarter, now holding 168,062 shares valued at around $52.5 million.
• GAMMA Investing LLC significantly increased its holdings in McDonald's by 39,039.7%, acquiring nearly 3.5 million shares worth over $1 billion.
• McDonald's announced a $1.77 quarterly dividend to be paid on September 16, 2023, with an annualized basis yield of 2.34%.

Dearborn Partners LLC lessened its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,062 shares of the fast-food giant's stock after selling 26,637 shares during the period. McDonald's accounts for approximately 2.5% of Dearborn Partners LLC's holdings, making the stock its 4th biggest position. Dearborn Partners LLC's holdings in McDonald's were worth $52,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. GAMMA Investing LLC lifted its stake in shares of McDonald's by 39,039.7% during the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock worth $1,092,645,000 after buying an additional 3,488,982 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in McDonald's during the fourth quarter valued at $350,935,000. Northern Trust Corp lifted its position in McDonald's by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after purchasing an additional 895,896 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in McDonald's during the fourth quarter valued at $211,824,000. Finally, APG Asset Management N.V. lifted its position in McDonald's by 1,547.1% during the fourth quarter. APG Asset Management N.V. now owns 641,950 shares of the fast-food giant's stock valued at $179,715,000 after purchasing an additional 602,976 shares during the period. Institutional investors own 70.29% of the company's stock.

Insider Buying and Selling at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Wednesday, July 23rd. The shares were 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 of the company's stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction 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 completion of the sale, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,817 shares of company stock valued at $1,147,992. Corporate insiders own 0.25% of the company's stock.

McDonald's Price Performance

Shares of MCD traded down $3.31 during midday trading on Thursday, reaching $300.30. The stock had a trading volume of 3,619,632 shares, compared to its average volume of 3,222,961. The company has a market cap of $214.72 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 3.18 and a beta of 0.53. The company's fifty day simple moving average is $299.68 and its two-hundred day simple moving average is $303.37. 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 released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 EPS. On average, sell-side analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given 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 of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is 62.49%.

Analyst Ratings Changes

MCD has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Redburn Atlantic reiterated a "sell" rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Bank of America lowered their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective on the stock in a report on Thursday, July 10th. Finally, Morgan Stanley upped their price objective on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $323.39.

About McDonald's

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.