MetLife Investment Management LLC Trims Stock Position in McDonald's Corporation $MCD

Key Points

• MetLife Investment Management LLC has reduced its stake in McDonald's Corporation by 1.9% and now owns 188,213 shares valued at approximately $58.8 million.
• McDonald's recently reported earnings of $3.19 per share for the quarter, exceeding analysts' expectations, with a revenue of $6.84 billion, which is a 5.4% increase compared to last year.
• The company announced a quarterly dividend of $1.77 per share, reflecting a yield of 2.3%, with a payout ratio of 60.67%.

MetLife Investment Management LLC reduced its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,213 shares of the fast-food giant's stock after selling 3,571 shares during the quarter. MetLife Investment Management LLC's holdings in McDonald's were worth $58,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. purchased a new position in McDonald's during the 4th quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald's in the 4th quarter worth about $29,000. Abound Financial LLC purchased a new stake in shares of McDonald's in the 1st quarter worth about $30,000. Copia Wealth Management purchased a new stake in shares of McDonald's in the 4th quarter worth about $31,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald's in the 1st quarter worth about $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Price Performance

Shares of McDonald's stock opened at $313.8010 on Friday. The stock has a market cap of $223.93 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 3.20 and a beta of 0.52. The firm's 50-day moving average is $299.02 and its 200 day moving average is $305.84. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald's's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.97 EPS. On average, equities analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business 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 dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald's's dividend payout ratio is currently 60.67%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCD. Morgan Stanley upped their target price on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Stifel Nicolaus upped their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a research report on Friday. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a research report on Thursday, July 10th. Melius began coverage on shares of McDonald's in a research report on Monday, July 14th. They issued a "sell" rating and a $250.00 target price on the stock. Finally, Barclays upped their target price on shares of McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $326.38.

Insider Activity at McDonald's

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the company'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 in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,341 shares of company stock worth $2,229,327 over the last quarter. 0.25% of the stock is currently owned by insiders.

McDonald's Company 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.

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