US Bancorp DE Sells 16,037 Shares of McDonald’s Corporation $MCD

US Bancorp DE cut its position in shares of McDonald’s Corporation (NYSE:MCD) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 966,300 shares of the fast-food giant’s stock after selling 16,037 shares during the quarter. US Bancorp DE owned about 0.14% of McDonald’s worth $282,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new position in McDonald’s during the first quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in McDonald’s by 19.6% during the first 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 buying an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after buying an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 valued at $177,390,000 after buying an additional 407,982 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

Shares of MCD opened at $294.44 on Thursday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The firm has a market capitalization of $210.11 billion, a P/E ratio of 25.23, a PEG ratio of 3.02 and a beta of 0.50. The business has a fifty day moving average of $306.56 and a 200 day moving average of $305.94.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 earnings per share. Analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio is presently 60.67%.

Analysts Set New Price Targets

MCD has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Royal Bank Of Canada set a $320.00 price objective on McDonald’s in a research note on Wednesday. Piper Sandler lifted their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. KeyCorp reiterated an “overweight” rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $324.73.

Insider Buying and Selling

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the company’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 owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,402 shares of company stock worth $1,973,407. Corporate insiders own 0.25% of the company’s stock.

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.