McDonald's Corporation (NYSE:MCD) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC decreased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,184 shares of the fast-food giant's stock after selling 2,147 shares during the period. McDonald's accounts for approximately 2.0% of Sawgrass Asset Management LLC's holdings, making the stock its 8th biggest holding. Sawgrass Asset Management LLC's holdings in McDonald's were worth $15,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCD. Vanguard Group Inc. lifted its position in shares of McDonald's by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC raised its position in McDonald's by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock worth $4,652,768,000 after purchasing an additional 157,458 shares during the last quarter. Capital Research Global Investors raised its position in McDonald's by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock worth $3,088,037,000 after purchasing an additional 531,070 shares during the last quarter. Norges Bank acquired a new position in McDonald's during the 4th quarter worth $2,725,190,000. Finally, Northern Trust Corp lifted its holdings in McDonald's by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after buying an additional 895,896 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the sale, the insider now directly owns 11,161 shares of the company's stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research reports. TD Securities reissued a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research note on Thursday, June 5th. Argus cut McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Truist Financial set a $350.00 price objective on McDonald's in a report on Friday, May 2nd. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Finally, Redburn Atlantic reiterated a "sell" rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and an average target price of $321.79.

McDonald's Trading Down 1.0%

MCD stock opened at $286.75 on Monday. McDonald's Corporation has a 1-year low of $243.53 and a 1-year high of $326.32. The firm has a market cap of $205.04 billion, a PE ratio of 25.31, a P/E/G ratio of 3.00 and a beta of 0.56. The business's 50-day moving average price is $310.55 and its two-hundred day moving average price is $302.86.

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 for the quarter, meeting the consensus estimate of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the previous year, the business posted $2.70 EPS. McDonald's's revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

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.

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