McDonald’s Corporation $MCD Shares Purchased by City Holding Co.

City Holding Co. increased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 1.2% in the 2nd quarter, Holdings Channel reports. The firm owned 22,133 shares of the fast-food giant’s stock after purchasing an additional 271 shares during the period. City Holding Co.’s holdings in McDonald’s were worth $6,466,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCD. Vanguard Group Inc. raised its stake in McDonald’s by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after purchasing an additional 239,753 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Northern Trust Corp raised its position in McDonald’s by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after purchasing an additional 97,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of McDonald’s by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after buying an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCD. Citigroup upped their target price on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. TD Securities reiterated a “hold” rating and set a $305.00 price target on shares of McDonald’s in a report on Thursday, June 5th. Melius began coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price target on the stock. Barclays raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $325.86.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $305.10 on Friday. The firm has a fifty day moving average price of $306.48 and a 200 day moving average price of $306.19. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock has a market cap of $217.72 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.11 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the company posted $2.97 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s payout ratio is 60.67%.

Insider Activity

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,402 shares of company stock valued at $2,273,407. Company insiders own 0.25% of the company’s stock.

McDonald’s Company Profile

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.