KBC Group NV Sells 68,620 Shares of McDonald’s Co. (NYSE:MCD)

KBC Group NV lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 26.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,295 shares of the fast-food giant’s stock after selling 68,620 shares during the period. KBC Group NV’s holdings in McDonald’s were worth $57,946,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MCD. International Assets Investment Management LLC lifted its holdings in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors lifted its stake in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares in the last quarter. Swedbank AB bought a new stake in McDonald’s in the 1st quarter valued at approximately $348,206,000. Capital World Investors lifted its stake in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in McDonald’s in the 2nd quarter valued at approximately $110,321,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Truist Financial cut their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. UBS Group boosted their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Tigress Financial upped their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock valued at $10,698,289 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $298.56 on Friday. The stock’s fifty day moving average price is $299.79 and its two-hundred day moving average price is $277.14. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm has a market cap of $213.95 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 3.95 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the firm posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 58.65%.

McDonald’s Company 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.