McDonald’s Corporation (NYSE:MCD) Shares Sold by Whittier Trust Co.

by · The Cerbat Gem

Whittier Trust Co. trimmed its holdings in McDonald’s Corporation (NYSE:MCDFree Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,462 shares of the fast-food giant’s stock after selling 1,813 shares during the period. Whittier Trust Co.’s holdings in McDonald’s were worth $22,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Granite Bay Wealth Management LLC boosted its stake in shares of McDonald’s by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock valued at $309,000 after purchasing an additional 33 shares during the last quarter. CVA Family Office LLC lifted its holdings in McDonald’s by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after acquiring an additional 33 shares during the period. Consilium Wealth Advisory LLC raised its stake in shares of McDonald’s by 2.5% during the 1st 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. Northeast Financial Consultants Inc raised its holdings in shares of McDonald’s by 0.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock worth $2,170,000 after purchasing an additional 34 shares during the period. Finally, Tealwood Asset Management Inc. raised its stake in McDonald’s by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock valued at $2,535,000 after acquiring an additional 34 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Robert W. Baird upped their target price on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. TD Securities restated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 5th. Melius initiated coverage on shares of McDonald’s in a research report on Monday. They issued a “sell” rating and a $250.00 price objective on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $319.48.

View Our Latest Stock Analysis on McDonald’s

McDonald’s Price Performance

NYSE:MCD opened at $301.86 on Tuesday. The company’s 50-day simple moving average is $303.84 and its 200 day simple moving average is $302.65. McDonald’s Corporation has a one year low of $246.12 and a one year high of $326.32. The firm has a market capitalization of $215.84 billion, a P/E ratio of 26.64, a PEG ratio of 3.13 and a beta of 0.53.

McDonald’s (NYSE:MCDGet Free Report) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.70 earnings per share. On average, equities research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.35%. McDonald’s’s payout ratio is presently 62.49%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer directly owned 8,858 shares in the company, valued at $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. Insiders sold 3,817 shares of company stock worth $1,165,843 over the last quarter. Insiders own 0.25% of the company’s stock.

McDonald’s Profile

(Free Report)

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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