Insider Selling: McDonald’s (NYSE:MCD) EVP Sells 2,486 Shares of Stock

McDonald’s Corporation (NYSE:MCD) EVP Desiree Ralls-Morrison sold 2,486 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $320.00, for a total value of $795,520.00. Following the completion of the sale, the executive vice president owned 6,268 shares in the company, valued at approximately $2,005,760. This represents a 28.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

McDonald’s Trading Up 0.8%

Shares of MCD stock traded up $2.51 during trading hours on Thursday, hitting $321.20. The company’s stock had a trading volume of 1,421,130 shares, compared to its average volume of 3,434,606. The company has a 50 day moving average of $306.29 and a 200 day moving average of $303.80. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a market cap of $228.75 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.49 and a beta of 0.52.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 earnings per share. As a group, analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $1.86 dividend. The ex-dividend date was Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.3%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is currently 63.48%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MCD. Norges Bank purchased a new stake in McDonald’s during the 2nd quarter worth approximately $2,780,712,000. Laurel Wealth Advisors LLC increased its position in shares of McDonald’s by 29,382.3% during the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after purchasing an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC acquired a new position in McDonald’s in the 2nd quarter valued at $1,412,069,000. Viking Global Investors LP lifted its holdings in McDonald’s by 171.7% in the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Amundi lifted its holdings in McDonald’s by 96.0% in the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock valued at $1,188,147,000 after purchasing an additional 1,974,751 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MCD shares. Mizuho upgraded shares of McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley set a $335.00 price target on McDonald’s in a research note on Friday, October 17th. Guggenheim upped their price target on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Royal Bank Of Canada began coverage on McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $325.00 price objective on shares of McDonald’s in a report on Wednesday, October 22nd. Eleven equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and an average price target of $324.57.

McDonald’s Company 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.