McDonald's Corporation (NYSE:MCD) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in McDonald's Corporation by 3.2%, retaining approximately 0.14% of the company, valued at about $306.85 million.
• Insider Joseph M. Erlinger sold 939 shares of McDonald's, resulting in a 9.19% decrease in his holdings, while the total insider stock sales amounted to $1.15 million in the last quarter.
• The firm announced a quarterly dividend of $1.77 per share, with a yield of 2.4%, set to be paid on September 16th for investors of record as of September 2nd.

US Bancorp DE cut its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 982,337 shares of the fast-food giant's stock after selling 32,295 shares during the period. US Bancorp DE owned approximately 0.14% of McDonald's worth $306,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Red Door Wealth Management LLC lifted its position in McDonald's by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after purchasing an additional 109 shares during the period. Aviva PLC lifted its position in McDonald's by 5.6% in the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock worth $125,350,000 after purchasing an additional 23,024 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in McDonald's by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock worth $107,867,000 after purchasing an additional 18,393 shares during the period. Sagespring Wealth Partners LLC lifted its position in McDonald's by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after purchasing an additional 3,212 shares during the period. Finally, Segment Wealth Management LLC increased its holdings in shares of McDonald's by 1.7% in the first quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock valued at $17,078,000 after buying an additional 937 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction dated 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 transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock valued at $1,147,992 over the last quarter. 0.25% of the stock is owned by company insiders.

McDonald's Price Performance

Shares of McDonald's stock opened at $300.30 on Friday. McDonald's Corporation has a fifty-two week low of $262.40 and a fifty-two week high of $326.32. The firm has a market cap of $214.72 billion, a P/E ratio of 26.50, a P/E/G ratio of 3.18 and a beta of 0.53. The firm has a 50 day simple moving average of $299.68 and a 200 day simple moving average of $303.37.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the company posted $2.70 EPS. The business's quarterly revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is currently 62.49%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Robert W. Baird upped their price target on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Redburn Atlantic reaffirmed a "sell" rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $345.00 price target (up previously from $340.00) on shares of McDonald's in a report on Monday, May 5th. Finally, Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.