Toronto Dominion Bank Cuts Stock Position in McDonald's Co. (NYSE:MCD)

Toronto Dominion Bank decreased its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303,643 shares of the fast-food giant's stock after selling 82,339 shares during the period. Toronto Dominion Bank's holdings in McDonald's were worth $88,020,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in McDonald's by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after buying an additional 526,466 shares during the period. Geode Capital Management LLC lifted its holdings in McDonald's by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock worth $4,652,768,000 after buying an additional 157,458 shares during the period. Capital Research Global Investors lifted its holdings in McDonald's by 5.2% in the fourth quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock worth $3,088,037,000 after buying an additional 531,070 shares during the period. Norges Bank purchased a new stake in McDonald's in the fourth quarter worth about $2,725,190,000. Finally, Northern Trust Corp lifted its holdings in McDonald's by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after buying an additional 895,896 shares during the period. Institutional investors own 70.29% of the company's stock.

Insider Transactions at McDonald's

In other news, CMO Edith Morgan Flatley sold 3,200 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total value of $962,432.00. Following the completion of the sale, the chief marketing officer now directly owns 9,858 shares in the company, valued at $2,964,892.08. This represents a 24.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Manuel Jm Steijaert sold 10,459 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $308.71, for a total value of $3,228,797.89. Following the completion of the sale, the executive vice president now owns 4,606 shares of the company's stock, valued at $1,421,918.26. The trade was a 69.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,636 shares of company stock worth $5,420,722 in the last three months. Corporate insiders own 0.25% of the company's stock.

McDonald's Stock Down 0.5%

MCD traded down $1.60 during mid-day trading on Tuesday, reaching $319.63. 2,032,871 shares of the company traded hands, compared to its average volume of 3,553,307. The stock has a market capitalization of $228.55 billion, a P/E ratio of 28.06, a P/E/G ratio of 3.10 and a beta of 0.57. The company's fifty day moving average price is $310.92 and its 200-day moving average price is $301.07. McDonald's Co. has a 52-week low of $243.53 and a 52-week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.70 earnings per share. As a group, sell-side analysts forecast that McDonald's Co. will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.22%. McDonald's's dividend payout ratio (DPR) is 62.49%.

Analyst Ratings Changes

MCD has been the subject of several recent research reports. Morgan Stanley lowered their target price on shares of McDonald's from $340.00 to $335.00 and set an "overweight" rating for the company in a report on Monday, March 17th. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Piper Sandler lifted their target price on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. TD Securities reiterated a "hold" rating and set a $300.00 target price on shares of McDonald's in a report on Monday, February 10th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $345.00 target price (up from $340.00) on shares of McDonald's in a report on Monday, May 5th. Eleven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $325.91.

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.