McDonald’s (NYSE:MCD) EVP Desiree Ralls-Morrison Sells 2,763 Shares

McDonald’s Corporation (NYSE:MCD) EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the completion of the transaction, the executive vice president directly owned 6,268 shares in the company, valued at $1,744,760.48. This trade represents a 30.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

McDonald’s Trading Down 2.0%

MCD traded down $5.48 during trading hours on Monday, hitting $273.72. The company’s stock had a trading volume of 2,057,817 shares, compared to its average volume of 3,491,002. The business’s 50-day moving average price is $295.34 and its 200-day moving average price is $308.63. McDonald’s Corporation has a 12 month low of $271.98 and a 12 month high of $341.75. The stock has a market cap of $194.48 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 2.78 and a beta of 0.41.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the business posted $2.67 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that McDonald’s Corporation will post 12.93 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a $1.86 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.7%. McDonald’s’s dividend payout ratio is presently 61.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Your Advocates Ltd. LLP purchased a new position in shares of McDonald’s during the 4th quarter worth $27,000. Park Place Capital Corp raised its holdings in shares of McDonald’s by 95.7% during the 4th quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock worth $28,000 after acquiring an additional 45 shares during the period. IFC & Insurance Marketing Inc. purchased a new position in shares of McDonald’s during the 4th quarter worth $29,000. Abound Financial LLC purchased a new position in shares of McDonald’s during the 4th quarter worth $30,000. Finally, Purpose Unlimited Inc. purchased a new position in shares of McDonald’s during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MCD shares. BTIG Research reissued a “buy” rating and set a $370.00 price target on shares of McDonald’s in a research report on Thursday, May 7th. Guggenheim cut their price objective on shares of McDonald’s from $325.00 to $320.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Truist Financial upped their price objective on shares of McDonald’s from $356.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Sanford C. Bernstein restated a “market perform” rating and set a $340.00 price objective on shares of McDonald’s in a report on Thursday, February 12th. Finally, Wells Fargo & Company cut their price objective on shares of McDonald’s from $355.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Sixteen analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus target price of $334.45.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.