Mitsubishi UFJ Trust & Banking Corp Sells 4,909 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in McDonald's Corporation by 1.2%, selling 4,909 shares, and now owns approximately 0.06% of the company valued at $125.7 million.
• McDonald's reported earnings of $2.67 per share for the latest quarter, meeting analysts’ expectations, although revenue fell 3.5% year-over-year to $5.96 billion.
• The company announced a quarterly dividend of $1.77 per share, representing a 2.3% yield, which will be paid on September 16th to investors of record on September 2nd.

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 402,459 shares of the fast-food giant's stock after selling 4,909 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of McDonald's worth $125,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's during the 4th quarter valued at $25,000. Abound Financial LLC acquired a new position in shares of McDonald's during the first quarter valued at about $30,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald's during the fourth quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new stake in McDonald's in the first quarter valued at about $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in McDonald's in the first quarter valued at about $31,000. Institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of McDonald's stock traded up $1.51 during midday trading on Monday, hitting $304.40. 4,733,198 shares of the company traded hands, compared to its average volume of 3,488,248. The stock has a market cap of $217.66 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.17 and a beta of 0.52. The firm's fifty day moving average price is $299.44 and its 200-day moving average price is $303.83. McDonald's Corporation has a 12 month low of $265.33 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the company earned $2.70 EPS. The company's revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is presently 62.49%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the business'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 transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief marketing officer 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 have sold a total of 4,793 shares of company stock worth $1,444,208 in the last quarter. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Melius started coverage on shares of McDonald's in a report on Monday, July 14th. They issued a "sell" rating and a $250.00 target price on the stock. Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Redburn Atlantic reaffirmed a "sell" rating and issued a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Finally, TD Securities reissued a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $323.39.

McDonald's 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.