Ameriprise Financial Inc. Sells 111,243 Shares of McDonald’s Corporation $MCD

Ameriprise Financial Inc. lessened its stake in McDonald’s Corporation (NYSE:MCD) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,400,846 shares of the fast-food giant’s stock after selling 111,243 shares during the period. Ameriprise Financial Inc. owned about 0.62% of McDonald’s worth $1,285,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. WealthTrust Axiom LLC boosted its holdings in shares of McDonald’s by 1.8% in the 1st quarter. WealthTrust Axiom LLC now owns 1,946 shares of the fast-food giant’s stock worth $608,000 after acquiring an additional 35 shares in the last quarter. Certior Financial Group LLC grew its holdings in McDonald’s by 2.6% during the 1st quarter. Certior Financial Group LLC now owns 1,367 shares of the fast-food giant’s stock worth $427,000 after acquiring an additional 35 shares during the period. Alaethes Wealth LLC grew its position in shares of McDonald’s by 3.0% during the 1st quarter. Alaethes Wealth LLC now owns 1,219 shares of the fast-food giant’s stock worth $381,000 after buying an additional 35 shares during the period. Sheets Smith Wealth Management increased its stake in McDonald’s by 1.0% in the second quarter. Sheets Smith Wealth Management now owns 3,604 shares of the fast-food giant’s stock valued at $1,053,000 after purchasing an additional 35 shares in the last quarter. Finally, Sunbeam Capital Management LLC increased its holdings in shares of McDonald’s by 3.2% in the second quarter. Sunbeam Capital Management LLC now owns 1,112 shares of the fast-food giant’s stock worth $325,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup reduced their price target on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. Royal Bank Of Canada started coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. Truist Financial decreased their target price on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of McDonald’s in a research report on Wednesday. Finally, Mizuho upgraded McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. Eleven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, McDonald’s has a consensus rating of “Hold” and a consensus price target of $324.57.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $316.84 on Friday. The business’s 50 day simple moving average is $304.98 and its 200 day simple moving average is $303.78. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market capitalization of $225.64 billion, a P/E ratio of 27.03, a P/E/G ratio of 3.44 and a beta of 0.52.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The company 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 company posted $3.23 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $1.86 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is 63.48%.

Insiders Place Their Bets

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the completion of the transaction, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. The trade was a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,030 shares of company stock valued at $12,240,570 in the last 90 days. 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.