Iowa State Bank Sells 850 Shares of McDonald’s Co. (NYSE:MCD)

Iowa State Bank lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,650 shares of the fast-food giant’s stock after selling 850 shares during the quarter. Iowa State Bank’s holdings in McDonald’s were worth $3,327,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Northeast Financial Consultants Inc lifted its stake in McDonald’s by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock valued at $2,170,000 after acquiring an additional 34 shares during the period. Pettee Investors Inc. increased its position in McDonald’s by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after acquiring an additional 35 shares during the last quarter. Covestor Ltd increased its position in shares of McDonald’s by 4.1% during the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock valued at $261,000 after purchasing an additional 35 shares during the last quarter. Blue Barn Wealth LLC lifted its stake in shares of McDonald’s by 4.3% in the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock worth $252,000 after purchasing an additional 36 shares during the period. Finally, Diligent Investors LLC boosted its holdings in shares of McDonald’s by 0.8% in the fourth quarter. Diligent Investors LLC now owns 4,746 shares of the fast-food giant’s stock worth $1,376,000 after buying an additional 36 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MCD shares. Bank of America boosted their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Truist Financial set a $350.00 price objective on shares of McDonald’s in a research report on Friday, May 2nd. KeyCorp upped their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Morgan Stanley cut their price target on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Finally, Piper Sandler raised their price target on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $325.91.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the transaction, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $313.68 on Friday. The company has a market cap of $224.29 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.10 and a beta of 0.57. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The stock’s 50 day simple moving average is $312.40 and its two-hundred day simple moving average is $302.03.

McDonald’s (NYSE:MCD) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. McDonald’s’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $2.70 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald’s’s payout ratio is currently 62.49%.

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.