Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in McDonald’s Co. (NYSE:MCD)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in McDonald’s Co. (NYSE:MCD) by 4.1% during the first quarter, Holdings Channel.com reports. The firm owned 2,131,851 shares of the fast-food giant’s stock after selling 91,587 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in McDonald’s were worth $601,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the 1st quarter valued at $28,000. Signature Resources Capital Management LLC purchased a new position in shares of McDonald’s in the fourth quarter valued at about $31,000. Spartan Planning & Wealth Management bought a new position in shares of McDonald’s during the third quarter valued at about $33,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth about $38,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in shares of McDonald’s in the fourth quarter worth about $39,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,095 shares of company stock valued at $1,100,625. 0.23% of the stock is owned by insiders.

McDonald’s Stock Up 1.0 %

Shares of NYSE MCD traded up $2.57 during midday trading on Wednesday, hitting $250.36. The stock had a trading volume of 379,215 shares, compared to its average volume of 3,413,661. The company has a market cap of $180.43 billion, a P/E ratio of 21.03, a PEG ratio of 2.87 and a beta of 0.71. The business’s 50 day moving average is $262.80 and its 200-day moving average is $278.79. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.63 earnings per share. As a group, analysts expect that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.67%. McDonald’s’s payout ratio is 56.71%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America dropped their price objective on McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. KeyCorp dropped their price target on McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets reduced their price objective on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $330.00 target price on shares of McDonald’s in a research note on Wednesday, March 27th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.89.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.