Joseph M. Erlinger Sells 939 Shares of McDonald's Corporation (NYSE:MCD) Stock

McDonald's Corporation (NYSE:MCD - Get Free Report) insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

McDonald's Price Performance

McDonald's stock traded up $2.79 during trading on Friday, reaching $297.27. 1,943,462 shares of the company were exchanged, compared to its average volume of 3,599,742. McDonald's Corporation has a 52-week low of $250.23 and a 52-week high of $326.32. The company has a market capitalization of $212.56 billion, a P/E ratio of 26.23, a PEG ratio of 3.12 and a beta of 0.53. The stock's 50 day simple moving average is $301.40 and its two-hundred day simple moving average is $302.85.

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 analysts' consensus estimates of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 EPS. As a group, equities analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Tuesday, September 2nd. McDonald's's payout ratio is currently 62.49%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. WealthPlan Investment Management LLC boosted its stake in McDonald's by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock valued at $1,134,000 after acquiring an additional 32 shares during the period. Granite Bay Wealth Management LLC lifted its position 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 purchasing an additional 33 shares during the period. CVA Family Office LLC raised its stake in McDonald's by 1.9% during the 1st 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 raised its stake in McDonald's by 2.5% during the 1st 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. Finally, Security Financial Services INC. grew its holdings in shares of McDonald's by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after acquiring an additional 33 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Melius assumed coverage on McDonald's in a report on Monday, July 14th. They set a "sell" rating and a $250.00 target price for the company. Truist Financial increased their target price on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Bank of America dropped their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Robert W. Baird boosted their price objective on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Citigroup increased their target price on McDonald's from $364.00 to $365.00 and gave the company 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $322.00.

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.