McDonald’s Corporation (MCD) Insider Stephen Easterbrook Sells 171,577 Shares of Stock
McDonald’s Corporation (NYSE:MCD) insider Stephen Easterbrook sold 171,577 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total value of $28,879,840.64. Following the transaction, the insider now directly owns 49,778 shares in the company, valued at $8,378,632.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
McDonald’s Corporation (MCD) traded up $0.06 on Friday, hitting $169.11. The stock had a trading volume of 963,233 shares, compared to its average volume of 3,050,000. The company has a market cap of $137,030.00, a P/E ratio of 26.41, a PEG ratio of 2.76 and a beta of 0.67. McDonald’s Corporation has a 52 week low of $117.71 and a 52 week high of $170.92. The company has a debt-to-equity ratio of -8.17, a quick ratio of 1.27 and a current ratio of 1.28.
McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.01. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.75 billion. McDonald’s had a negative return on equity of 216.45% and a net margin of 24.19%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.62 EPS. research analysts predict that McDonald’s Corporation will post 6.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from McDonald’s’s previous quarterly dividend of $0.94. McDonald’s’s dividend payout ratio is 54.26%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MCD. Canada Pension Plan Investment Board boosted its stake in McDonald’s by 1.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock valued at $68,805,000 after purchasing an additional 4,300 shares during the period. Legacy Capital Partners Inc. boosted its stake in McDonald’s by 7.0% during the 1st quarter. Legacy Capital Partners Inc. now owns 26,154 shares of the fast-food giant’s stock valued at $3,390,000 after purchasing an additional 1,706 shares during the period. Teacher Retirement System of Texas boosted its stake in McDonald’s by 10.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock valued at $71,558,000 after purchasing an additional 44,899 shares during the period. Holderness Investments Co. boosted its stake in McDonald’s by 323.7% during the 1st quarter. Holderness Investments Co. now owns 10,589 shares of the fast-food giant’s stock valued at $1,372,000 after purchasing an additional 8,090 shares during the period. Finally, Cypress Asset Management Inc. TX boosted its stake in McDonald’s by 136.4% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 28,274 shares of the fast-food giant’s stock valued at $4,330,000 after purchasing an additional 16,315 shares during the period. Institutional investors own 67.95% of the company’s stock.
MCD has been the topic of several recent analyst reports. Wells Fargo & Company set a $185.00 price target on McDonald’s and gave the company a “buy” rating in a research report on Wednesday, October 25th. Deutsche Bank AG set a $185.00 price target on McDonald’s and gave the company a “buy” rating in a research report on Friday, October 20th. Canaccord Genuity reissued a “hold” rating and set a $170.00 price target on shares of McDonald’s in a research report on Friday, October 6th. Longbow Research raised McDonald’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $154.05 to $183.00 in a research report on Thursday, September 28th. Finally, Argus restated a “buy” rating on shares of McDonald’s in a research note on Tuesday, October 17th. Eleven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $169.96.
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McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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