McDonald’s Corporation $MCD Shares Sold by Community Bank N.A.

Community Bank N.A. trimmed its position in McDonald’s Corporation (NYSE:MCD) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,154 shares of the fast-food giant’s stock after selling 398 shares during the quarter. Community Bank N.A.’s holdings in McDonald’s were worth $3,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MCD. First American Trust FSB lifted its stake in McDonald’s by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA lifted its stake in McDonald’s by 58.0% during the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after purchasing an additional 91,313 shares during the last quarter. Hamilton Capital LLC lifted its position in shares of McDonald’s by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after buying an additional 819 shares during the last quarter. Red Door Wealth Management LLC lifted its position in shares of McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after buying an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of McDonald’s by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after buying an additional 18,393 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Up 1.0%

NYSE:MCD opened at $300.10 on Tuesday. The firm has a market cap of $214.15 billion, a P/E ratio of 25.72, a PEG ratio of 3.12 and a beta of 0.50. The stock’s 50 day simple moving average is $306.23 and its 200-day simple moving average is $305.64. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.97 EPS. Research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MCD shares. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Piper Sandler boosted their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, KeyCorp restated an “overweight” rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Hold” and an average target price of $325.18.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,402 shares of company stock valued at $1,973,407. 0.25% of the stock is owned by corporate insiders.

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.