Cullen Frost Bankers Inc. Has $29.29 Million Position in McDonald’s Corporation (NYSE:MCD)

Cullen Frost Bankers Inc. boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 3.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 93,759 shares of the fast-food giant’s stock after acquiring an additional 2,982 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in McDonald’s were worth $29,287,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s in the 4th quarter valued at $25,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald’s in the 4th quarter valued at about $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of McDonald’s in the 4th quarter valued at approximately $30,000. Abound Financial LLC bought a new position in McDonald’s during the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management acquired a new position in McDonald’s during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a report on Thursday, July 10th. Morgan Stanley raised their price objective on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday. Barclays lifted their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Truist Financial boosted their target price on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $319.48.

McDonald’s Stock Down 0.8%

NYSE:MCD opened at $299.58 on Wednesday. The firm has a market capitalization of $214.21 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 3.15 and a beta of 0.53. McDonald’s Corporation has a twelve month low of $246.12 and a twelve month high of $326.32. The stock’s 50 day moving average price is $303.49 and its two-hundred day moving average price is $302.63.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the business earned $2.70 EPS. McDonald’s’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald’s’s payout ratio is presently 62.49%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,817 shares of company stock valued at $1,165,843. 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.