Insider Selling: McDonald’s Co. (NYSE:MCD) CFO Sells $1,781,937.56 in Stock

by · The Markets Daily

McDonald’s Co. (NYSE:MCD – Get Free Report) CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $303.65 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $304.29. The company has a market capitalization of $217.82 billion, a PE ratio of 25.78, a P/E/G ratio of 3.99 and a beta of 0.72. The business has a 50-day moving average of $279.90 and a 200-day moving average of $270.89.

McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the business earned $3.17 EPS. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts expect that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.20%. McDonald’s’s dividend payout ratio is presently 56.71%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. acquired a new position in McDonald’s in the second quarter worth about $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the last quarter. California State Teachers Retirement System grew its position in shares of McDonald’s by 1.4% in the 4th quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after acquiring an additional 15,863 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of McDonald’s by 411.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after acquiring an additional 6,031 shares during the last quarter. Finally, BNP Paribas acquired a new stake in shares of McDonald’s during the 1st quarter valued at approximately $7,898,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCD. Stifel Nicolaus cut their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Truist Financial dropped their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BMO Capital Markets decreased their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. TD Cowen reaffirmed a “hold” rating and set a $280.00 price objective on shares of McDonald’s in a research note on Monday. Finally, Guggenheim raised their target price on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.22.

Read Our Latest Analysis on MCD

McDonald’s Company Profile

(Get Free Report)

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.

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