OVERSEA CHINESE BANKING Corp Ltd Has $2.08 Million Stake in McDonald's Corporation (NYSE:MCD)

Key Points

• Oversea Chinese Banking Corp Ltd reduced its stake in McDonald's by 29.1%, now holding 6,656 shares worth approximately $2.08 million.
• Insider sales included Joseph M. Erlinger and CMO Edith Morgan Flatley, decreasing their shares by 9.19% and 10.14%, respectively.
• McDonald's announced a quarterly dividend of $1.77 per share, with an annualized yield of 2.3%, to be paid on September 16th.

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 29.1% in the first quarter, according to its most recent Form 13F filing 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 reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Granite Bay Wealth Management LLC increased its holdings in McDonald's by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC increased its holdings in McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC increased its holdings in McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after purchasing an additional 33 shares during the period. Security Financial Services INC. increased its holdings in McDonald's by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after purchasing an additional 33 shares during the period. Finally, Northeast Financial Consultants Inc increased its holdings in McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after purchasing an additional 34 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred 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 of the company's stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,817 shares of company stock worth $1,147,992. Insiders own 0.25% of the company's stock.

McDonald's Stock Performance

Shares of NYSE MCD opened at $302.88 on Friday. McDonald's Corporation has a fifty-two week low of $265.33 and a fifty-two week high of $326.32. The stock has a market cap of $216.57 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.17 and a beta of 0.52. The firm's 50-day simple moving average is $299.44 and its 200 day simple moving average is $303.66.

McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting 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 for the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter last year, the firm earned $2.70 EPS. The company's quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts predict that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCD. Piper Sandler increased their price target on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Redburn Atlantic reiterated a "sell" rating and set a $260.00 price target (down from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Morgan Stanley increased their price target on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Argus downgraded McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Finally, Truist Financial increased their price target on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Corporation (NYSE:MCD - Free Report).

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.