LGT Group Foundation Sells 1,692 Shares of McDonald’s Co. (NYSE:MCD)

LGT Group Foundation decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,400 shares of the fast-food giant’s stock after selling 1,692 shares during the quarter. LGT Group Foundation’s holdings in McDonald’s were worth $1,886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter worth $28,000. Clear Investment Research LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in McDonald’s in the 4th quarter valued at about $39,000. Kings Path Partners LLC bought a new position in McDonald’s during the second quarter worth about $38,000. Finally, Accent Capital Management LLC acquired a new position in McDonald’s during the fourth quarter worth approximately $44,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,291 shares of company stock worth $1,689,073. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $291.22 on Tuesday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The stock has a market capitalization of $209.88 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 3.87 and a beta of 0.72. The company’s 50 day simple moving average is $269.47 and its 200 day simple moving average is $270.57.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts anticipate that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCD. Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Loop Capital decreased their price objective on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Tigress Financial increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America reduced their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.