Associated Banc Corp Sells 1,665 Shares of McDonald’s Corporation $MCD

Associated Banc Corp trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,368 shares of the fast-food giant’s stock after selling 1,665 shares during the quarter. Associated Banc Corp’s holdings in McDonald’s were worth $29,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. Laurel Wealth Advisors LLC increased its stake in shares of McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after purchasing an additional 5,718,087 shares during the last quarter. Soundwatch Capital LLC acquired a new stake in McDonald’s in the second quarter valued at about $1,412,069,000. Nuveen LLC bought a new position in McDonald’s in the first quarter valued at about $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 worth $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of McDonald’s by 1.3% in the second quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock worth $20,840,787,000 after acquiring an additional 921,936 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MCD shares. TD Cowen upped their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Morgan Stanley set a $335.00 price target on shares of McDonald’s in a report on Friday, October 17th. Piper Sandler reiterated a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research note on Wednesday, October 22nd. Citigroup reduced their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Finally, Mizuho raised McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Hold” and a consensus price target of $324.57.

Insider Activity

In related news, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total transaction of $977,094.90. Following the sale, the insider owned 6,088 shares in the company, valued at $1,861,832.16. This represents a 34.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 34,463 shares of company stock worth $10,549,351. 0.25% of the stock is owned by insiders.

McDonald’s Price Performance

McDonald’s stock opened at $304.99 on Tuesday. The stock’s 50 day moving average is $303.02 and its 200 day moving average is $304.11. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The firm has a market cap of $217.20 billion, a P/E ratio of 26.13, a P/E/G ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the business posted $3.23 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $1.86 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is presently 63.48%.

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.