City State Bank Reduces Position in McDonald’s Corporation $MCD

City State Bank cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 23.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,875 shares of the fast-food giant’s stock after selling 580 shares during the quarter. City State Bank’s holdings in McDonald’s were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in McDonald’s by 0.3% during the first 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 holdings in McDonald’s by 16.8% during 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 purchasing an additional 1,344,954 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of 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 worth $2,800,447,000 after buying an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 worth $1,606,354,000 after buying an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings 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 worth $1,556,485,000 after buying an additional 815,768 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCD. KeyCorp reissued an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a report on Monday. Citigroup lowered their price target on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday. BMO Capital Markets increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Guggenheim lowered their price target on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, Royal Bank Of Canada began coverage on shares of McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $324.50.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,463 shares of company stock valued at $1,692,186. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.3%

MCD opened at $306.05 on Friday. The stock has a 50-day moving average price of $306.49 and a 200-day moving average price of $305.61. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a market capitalization of $218.39 billion, a P/E ratio of 26.23, a PEG ratio of 3.24 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the business earned $2.97 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is 60.67%.

McDonald’s 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.