Piscataqua Savings Bank Reduces Stock Holdings in McDonald’s Corporation $MCD

Piscataqua Savings Bank reduced its stake in McDonald’s Corporation (NYSE:MCD) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,644 shares of the fast-food giant’s stock after selling 310 shares during the period. Piscataqua Savings Bank’s holdings in McDonald’s were worth $1,065,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MCD shares. Erste Group Bank downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Redburn Atlantic reissued a “sell” rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. JPMorgan Chase & Co. increased their price objective on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. TD Securities reissued a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Finally, Morgan Stanley increased their price objective on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $325.86.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,341 shares of company stock worth $2,544,327. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $301.19 on Friday. The stock has a fifty day moving average price of $306.01 and a 200 day moving average price of $306.47. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The company has a market cap of $214.93 billion, a PE ratio of 25.81, a P/E/G ratio of 3.11 and a beta of 0.50.

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

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 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.