Russell Investments Group Ltd. Sells 145,129 Shares of McDonald’s Corporation $MCD

Russell Investments Group Ltd. lowered its position in McDonald’s Corporation (NYSE:MCD) by 27.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 387,537 shares of the fast-food giant’s stock after selling 145,129 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of McDonald’s worth $113,186,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC raised its position in shares of McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after purchasing an additional 32 shares during the period. WealthTrust Axiom LLC grew its stake in McDonald’s by 1.8% in the 1st quarter. WealthTrust Axiom LLC now owns 1,946 shares of the fast-food giant’s stock valued at $608,000 after buying an additional 35 shares in the last quarter. Certior Financial Group LLC raised 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 valued at $427,000 after acquiring an additional 35 shares during the period. Alaethes Wealth LLC raised its holdings in McDonald’s by 3.0% during the 1st quarter. Alaethes Wealth LLC now owns 1,219 shares of the fast-food giant’s stock valued at $381,000 after acquiring an additional 35 shares during the period. Finally, Sheets Smith Wealth Management lifted its position in shares of McDonald’s by 1.0% during the second quarter. Sheets Smith Wealth Management now owns 3,604 shares of the fast-food giant’s stock worth $1,053,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of MCD opened at $312.43 on Thursday. 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 $222.50 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.23 and a beta of 0.50. The firm’s 50 day simple moving average is $303.32 and its 200 day simple moving average is $304.15.

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

McDonald’s Increases Dividend

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

Insider Transactions at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of McDonald’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. This trade represents a 74.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,463 shares of company stock valued at $10,549,351 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MCD shares. Truist Financial reduced their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada assumed coverage on McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Finally, TD Cowen upped their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $324.57.

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.