McDonald’s Corporation (NYSE:MCD) Shares Sold by LifeSteps Financial Inc.

LifeSteps Financial Inc. reduced its holdings in McDonald’s Corporation (NYSE:MCD) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,058 shares of the fast-food giant’s stock after selling 47 shares during the quarter. LifeSteps Financial Inc.’s holdings in McDonald’s were worth $330,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of McDonald’s by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock valued at $20,341,391,000 after buying an additional 526,466 shares during the period. Geode Capital Management LLC lifted its holdings in shares of McDonald’s by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after buying an additional 157,458 shares during the period. Capital Research Global Investors lifted its holdings in shares of McDonald’s by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock valued at $3,088,037,000 after buying an additional 531,070 shares during the period. Norges Bank acquired a new position in McDonald’s during the fourth quarter worth $2,725,190,000. Finally, Northern Trust Corp raised its holdings in McDonald’s by 11.2% during 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 purchasing an additional 895,896 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 2,817 shares of company stock valued at $865,843. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 2.0%

Shares of NYSE:MCD opened at $285.78 on Thursday. The company has a market cap of $204.34 billion, a P/E ratio of 25.22, a P/E/G ratio of 3.04 and a beta of 0.56. McDonald’s Corporation has a 52 week low of $243.53 and a 52 week high of $326.32. The business has a fifty day simple moving average of $309.13 and a 200-day simple moving average of $302.60.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.70 earnings per share. Sell-side analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCD. Barclays lifted their price objective on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Loop Capital cut 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 report on Friday, June 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $324.00 price objective (down from $329.00) on shares of McDonald’s in a report on Monday, June 9th. Truist Financial set a $350.00 price objective on McDonald’s in a report on Friday, May 2nd. Finally, Citigroup lifted their price objective on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $321.79.

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.