Nuveen LLC cut its stake in shares of McDonald’s Corporation (NYSE:MCD – Free 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 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:
- Positive Sentiment: McDonald’s new FIFA World Cup meal promotions, collectible cups, and Squishmallows tie-ins could lift traffic and drive incremental sales through limited-time demand. McDonald’s FIFA World Cup meals with Squishmallows and 9 collectible cups are here
- Positive Sentiment: McDonald’s is testing AI-powered drive-thru systems, which could improve service speed, reduce labor pressure, and support margins if the rollout works well. McDonald’s testing AI drive-thru system at select US locations
- Positive Sentiment: Analyst sentiment remains constructive, with coverage pointing to a “Moderate Buy” consensus on MCD. McDonald’s Corporation (NYSE:MCD) Given Consensus Rating of “Moderate Buy” by Analysts
- Neutral Sentiment: McDonald’s is receiving additional attention from commentary framing it as a long-term buy-on-weakness name, but this is more sentiment than a fresh fundamental catalyst. Jim Cramer Discusses a Strategic Buying Plan to Build a Great Cost Basis in McDonald’s
- Negative Sentiment: An insider sale by executive Joseph M. Erlinger may weigh on sentiment, even though insider sales do not always indicate a weaker outlook. Joseph M. Erlinger insider sale
- Negative Sentiment: Recent analysis highlighted that MCD shares have fallen over the past few months amid cost pressures, weaker low-income demand, and slower sales growth, which remains a key overhang for the stock. McDonald’s Stock Slides 13% in 3 Months: Buy the Dip or Stay Away?
- Negative Sentiment: There is also some concern around customer frustration with drive-thru changes and workplace safety scrutiny, which could hurt brand perception if the issues persist. McDonald’s quietly makes a major change to its drive thru and customers are furious
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
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
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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:MCD – Free Report).
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