Equitable Trust Co. Cuts Stake in McDonald’s Corporation $MCD
by Teresa Graham · The Cerbat GemEquitable Trust Co. lowered its position in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,363 shares of the fast-food giant’s stock after selling 3,009 shares during the period. Equitable Trust Co.’s holdings in McDonald’s were worth $5,073,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in McDonald’s by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after purchasing an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Northern Trust Corp boosted its position in McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after purchasing an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in McDonald’s by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after purchasing an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after purchasing an additional 815,768 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.
McDonald’s Trading Up 1.0%
Shares of MCD stock opened at $300.10 on Tuesday. The stock has a 50 day moving average of $306.23 and a 200 day moving average of $305.64. The stock has a market cap of $214.15 billion, a P/E ratio of 25.72, a P/E/G ratio of 3.12 and a beta of 0.50. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.
McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $2.97 earnings per share. On average, research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.
McDonald’s Dividend Announcement
The firm also recently disclosed 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 payout ratio is 60.67%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. TD Cowen raised their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. KeyCorp reissued an “overweight” rating and issued a $335.00 price target (up previously from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Evercore ISI raised their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $325.18.
Get Our Latest Stock Report on McDonald’s
Insiders Place Their Bets
In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,402 shares of company stock valued at $1,973,407 over the last ninety days. 0.25% of the stock is owned by corporate insiders.
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.
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