McDonald’s Co. (NYSE:MCD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,360,778 shares of the fast-food giant’s stock after selling 14,268 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of McDonald’s worth $425,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after acquiring an additional 526,466 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock worth $4,652,768,000 after purchasing an additional 157,458 shares in the last quarter. Capital Research Global Investors raised its position in shares of McDonald’s by 5.2% during the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock worth $3,088,037,000 after purchasing an additional 531,070 shares during the last quarter. Norges Bank purchased a new stake in McDonald’s in the 4th quarter valued at approximately $2,725,190,000. Finally, Northern Trust Corp grew its holdings in McDonald’s by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after buying an additional 895,896 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MCD shares. Piper Sandler upped their price objective on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. KeyCorp upped their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Robert W. Baird upped their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Bank of America lifted their target price on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $325.91.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total value of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares in the company, valued at approximately $3,853,850. This represents a 7.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $313.68 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $326.32. The firm has a market capitalization of $224.29 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.10 and a beta of 0.57. The business’s 50-day simple moving average is $312.40 and its 200-day simple moving average is $302.03.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the firm posted $2.70 earnings per share. McDonald’s’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

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.