Chevy Chase Trust Holdings LLC Sells 1,060 Shares of McDonald’s Corporation (NYSE:MCD)

Chevy Chase Trust Holdings LLC lessened its position in shares of McDonald’s Corporation (NYSE:MCD) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,756 shares of the fast-food giant’s stock after selling 1,060 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of McDonald’s worth $121,748,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MCD. Vanguard Group Inc. increased its stake in McDonald’s by 0.8% during 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 purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $4,652,768,000 after purchasing an additional 157,458 shares in the last quarter. Capital Research Global Investors increased its stake in 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 valued at $3,088,037,000 after purchasing an additional 531,070 shares in the last quarter. Norges Bank acquired a new position in McDonald’s during the 4th quarter valued at approximately $2,725,190,000. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 895,896 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $289.42 on Tuesday. The firm has a market capitalization of $206.94 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.00 and a beta of 0.56. The company’s 50-day moving average is $310.02 and its two-hundred day moving average is $302.79. McDonald’s Corporation has a 1-year low of $243.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last released 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. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same period in the prior year, the firm posted $2.70 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 2,817 shares of company stock worth $865,843. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial set a $350.00 price target on shares of McDonald’s in a research note on Friday, May 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $324.00 price objective (down previously from $329.00) on shares of McDonald’s in a research note on Monday, June 9th. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. TD Securities reiterated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Thursday, June 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $345.00 price objective (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $321.79.

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.