Capital City Trust Co. FL Cuts Stake in McDonald’s Co. (NYSE:MCD)

Capital City Trust Co. FL reduced its stake in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,350 shares of the fast-food giant’s stock after selling 67 shares during the period. Capital City Trust Co. FL’s holdings in McDonald’s were worth $3,049,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MCD. Norges Bank acquired a new stake in shares of McDonald’s during the fourth quarter worth $2,060,325,000. BlackRock Inc. lifted its position in McDonald’s by 4.5% during the fourth quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock valued at $14,185,930,000 after purchasing an additional 2,294,758 shares during the period. Capital World Investors lifted its position in McDonald’s by 91.5% during the first quarter. Capital World Investors now owns 4,472,924 shares of the fast-food giant’s stock valued at $1,106,065,000 after purchasing an additional 2,136,776 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in McDonald’s by 1,189.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock valued at $541,962,000 after purchasing an additional 2,021,754 shares during the period. Finally, Vanguard Group Inc. lifted its position in McDonald’s by 1.6% during the first quarter. Vanguard Group Inc. now owns 67,004,180 shares of the fast-food giant’s stock valued at $16,568,793,000 after purchasing an additional 1,039,187 shares during the period. 67.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research reports. Cowen boosted their target price on shares of McDonald’s from $275.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Tigress Financial boosted their target price on shares of McDonald’s from $314.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, August 30th. Barclays decreased their price objective on shares of McDonald’s from $289.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Sanford C. Bernstein started coverage on shares of McDonald’s in a research report on Wednesday, September 7th. They issued a “market perform” rating and a $267.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of McDonald’s from $263.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 7th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $285.39.

Insider Transactions at McDonald’s

In other news, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $264.02, for a total value of $1,188,090.00. The sale was disclosed in a document filed with the SEC, which is available through this link. In other McDonald’s news, SVP Catherine A. Hoovel sold 2,371 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $302,654.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $264.02, for a total transaction of $1,188,090.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,191 shares of company stock worth $5,250,365. 0.25% of the stock is currently owned by insiders.

McDonald’s Trading Down 1.3 %

Shares of NYSE MCD opened at $247.94 on Friday. McDonald’s Co. has a 12-month low of $217.68 and a 12-month high of $271.15. The stock has a market cap of $182.41 billion, a PE ratio of 30.53, a P/E/G ratio of 3.05 and a beta of 0.57. The company has a 50-day moving average of $258.22 and a 200 day moving average of $249.50.

McDonald’s (NYSE:MCDGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. McDonald’s had a net margin of 25.77% and a negative return on equity of 129.90%. The business had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the prior year, the company posted $2.37 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that McDonald’s Co. will post 9.83 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a $1.38 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $5.52 annualized dividend and a dividend yield of 2.23%. McDonald’s’s dividend payout ratio is currently 67.98%.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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