OLD Point Trust & Financial Services N A lessened its holdings in McDonald’s Corporation (NYSE:MCD – Free Report) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 918 shares of the fast-food giant’s stock after selling 46 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in McDonald’s were worth $268,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. WealthPlan Investment Management LLC raised its stake in shares of McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after acquiring an additional 32 shares during the period. Granite Bay Wealth Management LLC raised its stake in shares of McDonald’s by 3.5% in the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after acquiring an additional 33 shares during the period. CVA Family Office LLC increased its stake in McDonald’s by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC increased its stake in McDonald’s by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock worth $417,000 after purchasing an additional 33 shares during the period. Finally, Security Financial Services INC. increased its stake in McDonald’s by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares during the period. Institutional investors own 70.29% of the company’s stock.
McDonald’s Stock Performance
Shares of NYSE MCD opened at $303.99 on Wednesday. The company has a market cap of $216.93 billion, a PE ratio of 26.05, a P/E/G ratio of 3.09 and a beta of 0.50. The business has a 50-day simple moving average of $306.72 and a two-hundred day simple moving average of $306.25. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.
McDonald’s Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on MCD. Evercore ISI increased their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. KeyCorp reissued an “overweight” rating and set a $335.00 price target (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Bank of America dropped their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $325.86.
View Our Latest Stock Report on McDonald’s
Insider Transactions at McDonald’s
In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is owned by company insiders.
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.
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