OVERSEA CHINESE BANKING Corp Ltd Sells 2,736 Shares of McDonald's Corporation (NYSE:MCD)

OVERSEA CHINESE BANKING Corp Ltd lessened its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,656 shares of the fast-food giant's stock after selling 2,736 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in McDonald's were worth $2,081,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's in the fourth quarter valued at approximately $25,000. Abound Financial LLC acquired a new position in shares of McDonald's during the first quarter worth $30,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald's during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of McDonald's in the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald's in the first quarter worth $31,000. Institutional investors own 70.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MCD shares. Redburn Atlantic reiterated a "sell" rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Morgan Stanley upped their price objective on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a report on Monday. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Argus lowered shares of McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Finally, Northcoast Research lowered shares of McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $319.48.

Insider Buying and Selling

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer directly owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% 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, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider directly owned 10,222 shares of the company's stock, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,817 shares of company stock valued at $1,165,843 over the last three months. Insiders own 0.25% of the company's stock.

McDonald's Stock Performance

NYSE:MCD traded down $0.91 on Wednesday, hitting $298.71. The stock had a trading volume of 2,804,555 shares, compared to its average volume of 3,529,957. The stock has a market cap of $213.59 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The firm's fifty day simple moving average is $303.10 and its two-hundred day simple moving average is $302.60.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the business posted $2.70 EPS. The company's revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts predict that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is currently 62.49%.

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.