Mechanics Bank Trust Department lifted its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,942 shares of the fast-food giant’s stock after purchasing an additional 148 shares during the quarter. McDonald’s makes up about 1.9% of Mechanics Bank Trust Department’s holdings, making the stock its 10th biggest position. Mechanics Bank Trust Department’s holdings in McDonald’s were worth $11,621,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Osterweis Capital Management Inc. bought a new stake in McDonald’s during the fourth quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC lifted its stake in shares of McDonald’s by 102.0% in the first quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock worth $28,000 after buying an additional 51 shares during the last quarter. Ridgewood Investments LLC acquired a new position in McDonald’s in the 1st quarter valued at $32,000. Retirement Group LLC bought a new position in McDonald’s in the 4th quarter worth $37,000. Finally, Kepos Capital LP acquired a new position in McDonald’s during the 4th quarter worth $38,000. Institutional investors own 67.60% of the company’s stock.
Analyst Upgrades and Downgrades
MCD has been the topic of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research note on Friday, July 28th. TD Cowen reiterated an “outperform” rating and set a $326.00 price target on shares of McDonald’s in a report on Thursday, July 27th. Citigroup raised their price objective on shares of McDonald’s from $308.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Wells Fargo & Company upgraded shares of McDonald’s from an “equal weight” rating to an “overweight” rating and set a $310.00 target price for the company in a research note on Thursday, September 7th. Finally, Morgan Stanley raised their price target on shares of McDonald’s from $315.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Five equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $323.17.
McDonald’s Price Performance
Shares of MCD opened at $278.23 on Friday. The company has a market capitalization of $202.76 billion, a P/E ratio of 25.60, a PEG ratio of 2.75 and a beta of 0.64. McDonald’s Co. has a one year low of $230.58 and a one year high of $299.35. The business’s 50 day simple moving average is $287.27 and its 200-day simple moving average is $286.06.
McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.40. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.30 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.49 EPS for the current fiscal year.
McDonald’s Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a $1.52 dividend. This represents a $6.08 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, August 31st. McDonald’s’s payout ratio is presently 55.93%.
Insider Transactions at McDonald’s
In related news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $282.02, for a total value of $1,265,423.74. Following the completion of the sale, the insider now owns 10,786 shares of the company’s stock, valued at $3,041,867.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Marion K. Gross sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $289.52, for a total transaction of $868,560.00. Following the transaction, the executive vice president now owns 1,605 shares of the company’s stock, valued at $464,679.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $282.02, for a total value of $1,265,423.74. Following the completion of the sale, the insider now owns 10,786 shares of the company’s stock, valued at $3,041,867.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,149 shares of company stock worth $5,257,201. Corporate insiders own 0.27% of the company’s stock.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.
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