McDonald's Corporation (NYSE:MCD) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has reduced its stake in McDonald's Corporation by 6.5%, selling 28,291 shares and holding 409,608 shares worth approximately $127.9 million.
• Significant recent analyst downgrades include a reduction of McDonald's rating from "buy" to "sell" by Redburn Atlantic, with a price target cut to $260.
• McDonald's announced a quarterly dividend of $1.77 per share, reflecting a yield of 2.37%, with a payout ratio of 62.49%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 409,608 shares of the fast-food giant's stock after selling 28,291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of McDonald's worth $127,949,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Granite Bay Wealth Management LLC lifted its stake 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 worth $309,000 after acquiring an additional 33 shares during the last quarter. CVA Family Office LLC lifted its stake 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 worth $560,000 after acquiring an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC lifted its stake 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 worth $417,000 after acquiring an additional 33 shares during the last quarter. Security Financial Services INC. lifted its stake 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 worth $1,575,000 after acquiring an additional 33 shares during the last quarter. Finally, Northeast Financial Consultants Inc lifted its stake 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 worth $2,170,000 after acquiring an additional 34 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald's Stock Performance

Shares of MCD traded up $1.69 during trading hours on Wednesday, hitting $304.36. The stock had a trading volume of 1,307,181 shares, compared to its average volume of 3,586,943. The firm has a market cap of $217.63 billion, a P/E ratio of 26.85, a P/E/G ratio of 3.13 and a beta of 0.53. The company's fifty day simple moving average is $300.22 and its 200 day simple moving average is $303.25. McDonald's Corporation has a 12-month low of $262.40 and a 12-month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released 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 negative return on equity of 195.27% and a net margin of 31.75%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the company posted $2.70 earnings per share. The firm's revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald's Corporation 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 Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCD shares. KeyCorp decreased their price target on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. TD Securities restated a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research report on Thursday, June 5th. Barclays boosted their price objective on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Loop Capital downgraded shares of McDonald's from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, Truist Financial boosted their price objective on shares of McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, McDonald's presently has an average rating of "Hold" and an average price target of $322.00.

Insider Activity

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was 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. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,817 shares of company stock worth $1,147,992 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.