McDonald’s Co. (NYSE:MCD) Shares Sold by Thomasville National Bank

Thomasville National Bank cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 25,477 shares of the fast-food giant’s stock after selling 141 shares during the quarter. Thomasville National Bank’s holdings in McDonald’s were worth $7,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MCD. First Fiduciary Investment Counsel Inc. lifted its holdings in shares of McDonald’s by 12.5% during the 1st quarter. First Fiduciary Investment Counsel Inc. now owns 900 shares of the fast-food giant’s stock valued at $252,000 after acquiring an additional 100 shares in the last quarter. MBE Wealth Management LLC grew its stake in shares of McDonald’s by 4.5% in the first quarter. MBE Wealth Management LLC now owns 1,825 shares of the fast-food giant’s stock valued at $510,000 after buying an additional 79 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of McDonald’s by 20.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 43,252 shares of the fast-food giant’s stock valued at $12,094,000 after buying an additional 7,312 shares during the period. Litman Gregory Wealth Management LLC purchased a new stake in shares of McDonald’s during the 1st quarter valued at about $315,000. Finally, Park Avenue Securities LLC lifted its position in McDonald’s by 0.3% during the 1st quarter. Park Avenue Securities LLC now owns 19,390 shares of the fast-food giant’s stock worth $5,422,000 after acquiring an additional 63 shares in the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $291.35, for a total transaction of $1,307,287.45. Following the transaction, the insider now directly owns 12,038 shares of the company’s stock, valued at $3,507,271.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 4,487 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $291.35, for a total value of $1,307,287.45. Following the completion of the transaction, the insider now owns 12,038 shares in the company, valued at approximately $3,507,271.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $285.00, for a total transaction of $285,000.00. Following the sale, the chief marketing officer now owns 929 shares in the company, valued at $264,765. The disclosure for this sale can be found here. Insiders have sold 18,149 shares of company stock valued at $5,257,201 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. Loop Capital lifted their price objective on shares of McDonald’s from $346.00 to $383.00 in a research note on Friday, July 28th. Barclays lifted their price target on shares of McDonald’s from $330.00 to $345.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. BMO Capital Markets upped their price objective on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Piper Sandler assumed coverage on McDonald’s in a research report on Wednesday, June 14th. They set a “neutral” rating and a $308.00 target price on the stock. Finally, Oppenheimer increased their price target on McDonald’s from $315.00 to $330.00 in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.17.

McDonald’s Price Performance

Shares of NYSE MCD opened at $278.23 on Friday. McDonald’s Co. has a 1-year low of $230.58 and a 1-year high of $299.35. The firm has a market capitalization of $202.76 billion, a PE ratio of 25.60, a P/E/G ratio of 2.75 and a beta of 0.64. The business’s fifty day moving average price is $287.27 and its two-hundred day moving average price is $286.06.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.40. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.30 billion. During the same period last year, the firm posted $2.55 EPS. McDonald’s’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts expect that McDonald’s Co. will post 11.49 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors 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 of this dividend is Thursday, August 31st. McDonald’s’s dividend payout ratio is currently 55.93%.

About McDonald’s

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.