Iowa State Bank Reduces Position in McDonald’s Corporation $MCD

Iowa State Bank lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,380 shares of the fast-food giant’s stock after selling 270 shares during the quarter. Iowa State Bank’s holdings in McDonald’s were worth $3,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MCD. Nuveen LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD increased its position in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after purchasing an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in McDonald’s by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after buying an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after buying an additional 407,982 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the chief marketing officer owned 8,858 shares of the company’s stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,402 shares of company stock worth $2,273,407. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCD. Piper Sandler lifted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. BMO Capital Markets upped their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Argus downgraded McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Finally, TD Cowen upped their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $325.86.

McDonald’s Stock Up 0.3%

Shares of MCD stock opened at $300.72 on Monday. The stock has a market cap of $214.59 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.07 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The business has a fifty day simple moving average of $306.93 and a 200-day simple moving average of $306.15.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

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.