Raymond James Financial Inc. Decreases Stake in McDonald's Corporation $MCD

Key Points

• Raymond James Financial Inc. has reduced its stake in McDonald's Corporation by 1.1%, currently holding approximately 2.4 million shares worth about $749 million.
• McDonald's reported earnings of $3.19 per share for the last quarter, exceeding analysts' expectations, and its revenue rose 5.4% year-over-year to $6.84 billion.
• The company has declared a quarterly dividend of $1.77, with a dividend yield of 2.3%, set to be paid on September 16th to shareholders on record by September 2nd.

Raymond James Financial Inc. lowered its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,399,469 shares of the fast-food giant's stock after selling 25,841 shares during the period. Raymond James Financial Inc. owned approximately 0.34% of McDonald's worth $749,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC boosted its stake in shares of McDonald's by 0.9% in the first 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 during the period. Granite Bay Wealth Management LLC lifted its stake in 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 worth $309,000 after purchasing an additional 33 shares in the last quarter. CVA Family Office LLC raised its position in shares of McDonald's by 1.9% during 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 raised its position in shares of McDonald's by 2.5% during 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. raised its position in shares of McDonald's by 0.7% during 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 own 70.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MCD shares. BMO Capital Markets restated an "outperform" rating and set a $350.00 target price (up from $345.00) on shares of McDonald's in a research report on Thursday, August 7th. Piper Sandler upped their target price on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Melius initiated coverage on shares of McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 target price on the stock. Loop Capital lowered shares of McDonald's from a "buy" rating to a "hold" rating and reduced their target price for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, Bank of America reduced their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $326.87.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm'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 completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $296,216.00. Following the completion of the sale, the chief marketing officer 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 disclosure for this sale can be found here. Insiders sold a total of 7,280 shares of company stock worth $2,215,178 over the last three months. Corporate insiders own 0.25% of the company's stock.

McDonald's Stock Up 0.6%

Shares of NYSE MCD traded up $1.9130 during midday trading on Tuesday, reaching $310.6130. 2,892,827 shares of the company's stock traded hands, compared to its average volume of 3,555,519. The stock's 50 day simple moving average is $298.14 and its 200-day simple moving average is $305.31. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The company has a market cap of $221.65 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.15 and a beta of 0.52.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The company's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. Equities analysts predict that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

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

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.