McDonald’s Corporation $MCD Shares Purchased by Washington Trust Bank

Washington Trust Bank lifted its stake in McDonald’s Corporation (NYSE:MCD) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,506 shares of the fast-food giant’s stock after purchasing an additional 1,413 shares during the period. Washington Trust Bank’s holdings in McDonald’s were worth $1,609,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. WealthPlan Investment Management LLC increased its position 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 buying an additional 32 shares in the last quarter. Security Financial Services INC. raised its holdings in shares of McDonald’s by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after buying an additional 33 shares during the period. Ascent Wealth Partners LLC boosted its holdings in McDonald’s by 0.3% in the first quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock valued at $3,620,000 after purchasing an additional 34 shares during the last quarter. Platform Technology Partners increased its position in shares of McDonald’s by 0.4% in the 1st quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its stake in McDonald’s by 3.4% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after purchasing an additional 35 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Up 1.9%

Shares of McDonald’s stock opened at $305.01 on Thursday. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The business has a fifty day simple moving average of $304.94 and a 200 day simple moving average of $305.25. The stock has a market cap of $217.66 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $3.23 earnings per share. Analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 63.75%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research report on Thursday, July 10th. Melius began coverage on McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective for the company. Piper Sandler reiterated a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Morgan Stanley set a $335.00 price target on McDonald’s in a research note on Friday, October 17th. Finally, Truist Financial dropped their price objective on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $323.43.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The SEC filing for this sale provides additional information. 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.