McDonald’s Co. (NYSE:MCD) Shares Sold by Central Bank & Trust Co.

Central Bank & Trust Co. trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 17.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,141 shares of the fast-food giant’s stock after selling 1,929 shares during the quarter. Central Bank & Trust Co.’s holdings in McDonald’s were worth $2,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in McDonald’s in the fourth quarter valued at approximately $25,000. Atala Financial Inc purchased a new stake in McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial purchased a new stake in McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Pinney & Scofield Inc. purchased a new stake in McDonald’s in the fourth quarter valued at approximately $29,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now owns 12,100 shares in the company, valued at $3,853,850. This trade represents a 7.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $307.44 on Friday. The stock’s 50-day moving average is $312.29 and its 200-day moving average is $302.66. The company has a market cap of $219.83 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.70 EPS. Research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.30%. McDonald’s’s payout ratio is currently 62.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial set a $350.00 price objective on McDonald’s in a research note on Friday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $345.00 price objective (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Loop Capital cut McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the company from $346.00 to $315.00 in a research note on Friday. Erste Group Bank downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, TD Securities reiterated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research report on Thursday. Thirteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $324.96.

About McDonald’s

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.