FineMark National Bank & Trust Decreases Stake in McDonald’s Co. (NYSE:MCD)

FineMark National Bank & Trust trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 26.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,578 shares of the fast-food giant’s stock after selling 16,033 shares during the period. FineMark National Bank & Trust’s holdings in McDonald’s were worth $11,615,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in McDonald’s by 20.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock valued at $1,300,000 after buying an additional 753 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in McDonald’s by 14.5% during the fourth quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after purchasing an additional 240 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings in McDonald’s by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock valued at $829,000 after purchasing an additional 113 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in McDonald’s by 99.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after purchasing an additional 2,935 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in McDonald’s during the fourth quarter worth approximately $3,628,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.9 %

Shares of MCD opened at $288.03 on Thursday. The firm’s 50-day moving average is $267.35 and its two-hundred day moving average is $270.81. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The firm has a market capitalization of $206.62 billion, a P/E ratio of 24.44, a PEG ratio of 3.86 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.17 EPS. Analysts predict that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent analyst reports. KeyCorp dropped their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley reduced their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Guggenheim raised their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Citigroup reduced their price objective on McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, BMO Capital Markets lowered their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.89.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’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 completion of the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,291 shares of company stock valued at $1,689,073. Insiders own 0.23% of the company’s stock.

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.