Nuveen LLC Sells 30,231 Shares of McDonald’s Corporation $MCD

Nuveen LLC cut its stake in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 3,280,149 shares of the fast-food giant’s stock after selling 30,231 shares during the period. Nuveen LLC’s holdings in McDonald’s were worth $1,002,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of McDonald’s by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 72,351,127 shares of the fast-food giant’s stock valued at $22,112,675,000 after acquiring an additional 703,458 shares during the period. State Street Corp lifted its holdings in McDonald’s by 0.6% in the 3rd quarter. State Street Corp now owns 35,024,857 shares of the fast-food giant’s stock worth $10,643,704,000 after purchasing an additional 196,505 shares in the last quarter. Geode Capital Management LLC lifted its holdings in McDonald’s by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 17,038,519 shares of the fast-food giant’s stock worth $5,195,965,000 after purchasing an additional 76,090 shares in the last quarter. Norges Bank purchased a new position in McDonald’s in the 4th quarter worth approximately $2,890,438,000. Finally, Bank of New York Mellon Corp lifted its holdings in McDonald’s by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 5,283,655 shares of the fast-food giant’s stock worth $1,614,843,000 after purchasing an additional 40,506 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

NYSE:MCD opened at $285.02 on Friday. McDonald’s Corporation has a 1 year low of $271.85 and a 1 year high of $341.75. The stock’s 50 day simple moving average is $289.83 and its two-hundred day simple moving average is $306.90. The company has a market cap of $202.51 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.81 and a beta of 0.41.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the previous year, the company posted $2.67 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Corporation will post 12.93 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd will be paid a $1.86 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a yield of 2.6%. McDonald’s’s payout ratio is presently 61.34%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total value of $1,493,248.64. Following the sale, the insider owned 7,734 shares of the company’s stock, valued at $2,198,930.88. The trade was a 40.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president directly owned 6,268 shares in the company, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 11,307 shares of company stock worth $3,262,622. Corporate insiders own 0.26% of the company’s stock.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

Wall Street Analyst Weigh In

A number of research analysts recently commented on MCD shares. Jefferies Financial Group boosted their price target on McDonald’s from $360.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Tigress Financial boosted their price target on McDonald’s from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Robert W. Baird set a $305.00 price target on McDonald’s in a report on Thursday, May 7th. Citigroup boosted their price target on McDonald’s from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, KeyCorp lowered their price target on McDonald’s from $345.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Sixteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.26.

Read Our Latest Analysis on McDonald’s

McDonald’s Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

Further Reading

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Corporation (NYSE:MCDFree Report).

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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