McDonald's Corporation (NYSE:MCD) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion has reduced its investment in McDonald's Corporation by 6.1%, now holding 35,430 shares valued at approximately $10.76 million.
• McDonald's reported earnings of $3.19 per share for the quarter, surpassing predictions by $0.04 and showing a 5.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.77 per share, yielding 2.3%, with the dividend payout ratio set at 60.67%.

Sienna Gestion lowered its position in McDonald's Corporation (NYSE:MCD - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,430 shares of the fast-food giant's stock after selling 2,312 shares during the quarter. McDonald's comprises about 0.9% of Sienna Gestion's holdings, making the stock its 28th biggest holding. Sienna Gestion's holdings in McDonald's were worth $10,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MCD. Mascagni Wealth Management Inc. purchased a new position in McDonald's during the fourth quarter worth about $25,000. Pinney & Scofield Inc. purchased a new position in shares of McDonald's in the fourth quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of McDonald's in the fourth quarter valued at approximately $30,000. Abound Financial LLC purchased a new position in shares of McDonald's in the first quarter valued at approximately $30,000. Finally, Copia Wealth Management purchased a new position in shares of McDonald's in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insider Transactions at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at $2,713,740. The trade was a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business'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 of the company's stock, 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 7,280 shares of company stock valued at $2,215,178 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCD has been the subject of several recent research reports. BTIG Research reissued a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Robert W. Baird raised their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Morgan Stanley raised their price objective on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Melius initiated coverage on shares of McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price objective for the company. Finally, Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Two 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $326.87.

McDonald's Stock Down 0.1%

NYSE:MCD traded down $0.19 during midday trading on Friday, reaching $308.76. The stock had a trading volume of 3,416,469 shares, compared to its average volume of 3,546,982. The firm has a fifty day simple moving average of $298.06 and a two-hundred day simple moving average of $304.97. McDonald's Corporation has a 12-month low of $274.70 and a 12-month high of $326.32. The stock has a market cap of $220.33 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.15 and a beta of 0.52.

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

McDonald's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is 60.67%.

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.