TIAA Trust National Association Reduces Stock Position in McDonald's Corporation (NYSE:MCD)

Key Points

• TIAA Trust National Association reduced its stake in McDonald's Corporation by 4.9%, owning 50,129 shares valued at approximately $15.66 million after selling 2,591 shares.
• McDonald's reported a net revenue of $5.96 billion for the latest quarter, which fell short of projections, and an EPS of $2.67, matching analyst expectations.
• The company announced a quarterly dividend of $1.77 per share, translating to an annualized yield of 2.3%, with the ex-dividend date set for September 2nd.

TIAA Trust National Association lessened its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,129 shares of the fast-food giant's stock after selling 2,591 shares during the quarter. TIAA Trust National Association's holdings in McDonald's were worth $15,659,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in McDonald's during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new stake in McDonald's during the 4th quarter valued at about $29,000. GKV Capital Management Co. Inc. purchased a new stake in McDonald's during the 4th quarter valued at about $30,000. Abound Financial LLC purchased a new stake in McDonald's during the 1st quarter valued at about $30,000. Finally, Copia Wealth Management purchased a new stake in McDonald's during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

Shares of McDonald's stock opened at $302.88 on Friday. The business has a 50 day simple moving average of $299.44 and a two-hundred day simple moving average of $303.66. McDonald's Corporation has a 12 month low of $265.33 and a 12 month high of $326.32. The stock has a market capitalization of $216.57 billion, a P/E ratio of 26.73, a PEG ratio of 3.17 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. During the same quarter in the prior year, the firm earned $2.70 earnings per share. The business's revenue was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

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 issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald's's dividend payout ratio is presently 62.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCD. Barclays boosted their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Northcoast Research cut McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Loop Capital cut McDonald's from a "buy" rating to a "hold" rating and decreased their price objective for the company from $346.00 to $315.00 in a report on Friday, June 6th. BTIG Research reissued a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Finally, Melius began coverage on McDonald's in a report on Monday, July 14th. They issued a "sell" rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald's currently has an average rating of "Hold" and an average price target of $323.39.

Insider Buying and Selling

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the 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 completion of the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider directly owned 9,283 shares of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,817 shares of company stock valued at $1,147,992 in the last three months. Insiders own 0.25% of the company's stock.

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.

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