STAR Financial Bank Decreases Stake in McDonald’s Co. (NYSE:MCD)

STAR Financial Bank lessened its stake in McDonald’s Co. (NYSE:MCDFree Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,438 shares of the fast-food giant’s stock after selling 71 shares during the quarter. STAR Financial Bank’s holdings in McDonald’s were worth $969,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in McDonald’s during the fourth quarter worth approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC boosted its stake in shares of McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after buying an additional 5,609,736 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of McDonald’s by 10,702.5% in the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after buying an additional 2,154,297 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after buying an additional 987,099 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of McDonald’s by 552.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock valued at $234,729,000 after buying an additional 670,261 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.9 %

Shares of NYSE MCD traded up $4.62 on Wednesday, hitting $250.44. The company had a trading volume of 4,090,692 shares, compared to its average volume of 3,436,493. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The business has a 50 day moving average of $259.19 and a two-hundred day moving average of $276.86. The firm has a market capitalization of $180.49 billion, a P/E ratio of 21.26, a PEG ratio of 2.79 and a beta of 0.71.

McDonald’s (NYSE:MCDGet Free Report) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. McDonald’s’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.63 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Ratings Changes

A number of research firms recently weighed in on MCD. Bank of America decreased their price target on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Evercore ISI reiterated an “outperform” rating and set a $330.00 target price on shares of McDonald’s in a research report on Wednesday, March 27th. Stifel Nicolaus decreased their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. JPMorgan Chase & Co. decreased their target price on McDonald’s from $300.00 to $290.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup decreased their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.82.

View Our Latest Report on MCD

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,593 shares of company stock valued at $1,472,518. Insiders own 0.23% of the company’s stock.

About McDonald’s

(Free Report)

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.

Further Reading

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

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