TIAA Trust National Association Sells 3,347 Shares of McDonald’s Co. (NYSE:MCD)

TIAA Trust National Association trimmed its stake in McDonald’s Co. (NYSE:MCD) by 5.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 55,235 shares of the fast-food giant’s stock after selling 3,347 shares during the period. TIAA Trust National Association’s holdings in McDonald’s were worth $15,574,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Independent Wealth Network Inc. boosted its holdings in McDonald’s by 4.2% in the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock valued at $256,000 after purchasing an additional 35 shares during the period. Concentric Wealth Management LLC boosted its holdings in McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. Paragon Capital Management Ltd boosted its holdings in McDonald’s by 2.7% in the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares during the period. Mechanics Financial Corp boosted its holdings in McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its holdings in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. 70.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Robert W. Baird decreased their target price on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $310.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Morgan Stanley cut their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. BMO Capital Markets cut their price target on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Bank of America cut their price target on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.82.

McDonald’s Stock Down 0.9 %

MCD stock traded down $2.24 during trading on Friday, hitting $257.28. The company had a trading volume of 3,470,585 shares, compared to its average volume of 4,028,351. The firm has a market cap of $185.42 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.96 and a beta of 0.71. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The firm has a 50-day moving average price of $257.27 and a 200-day moving average price of $274.98.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the firm posted $2.63 EPS. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 12.13 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,593 shares of company stock valued at $1,472,518. 0.23% of the stock is owned by corporate insiders.

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.