Comerica Bank Cuts Stock Holdings in McDonald's Co. (NYSE:MCD)

Comerica Bank decreased its stake in McDonald's Co. (NYSE:MCD - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,994 shares of the fast-food giant's stock after selling 11,381 shares during the period. Comerica Bank's holdings in McDonald's were worth $72,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in McDonald's by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock worth $20,341,391,000 after purchasing an additional 526,466 shares during the period. Geode Capital Management LLC grew its holdings in McDonald's by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock worth $4,652,768,000 after purchasing an additional 157,458 shares during the period. Capital Research Global Investors raised its holdings in shares of McDonald's by 5.2% during the fourth quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock valued at $3,088,037,000 after purchasing an additional 531,070 shares during the period. Norges Bank acquired a new stake in shares of McDonald's in the 4th quarter valued at about $2,725,190,000. Finally, Northern Trust Corp raised its stake in McDonald's by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after buying an additional 895,896 shares during the period. Institutional investors and hedge funds own 70.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MCD. Loop Capital reaffirmed a "buy" rating and issued a $342.00 price objective on shares of McDonald's in a research note on Friday, January 3rd. Truist Financial decreased their price objective on McDonald's from $342.00 to $340.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Erste Group Bank raised McDonald's from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America upped their target price on shares of McDonald's from $312.00 to $316.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Finally, Piper Sandler upped their price objective on shares of McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $325.26.

Insider Buying and Selling at McDonald's

In other news, CMO Edith Morgan Flatley sold 3,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the transaction, the chief marketing officer now directly owns 9,858 shares of the company's stock, valued at $2,964,892.08. This represents a 24.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,136 shares of company stock valued at $8,676,247. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Stock Performance

MCD traded down $1.86 on Friday, hitting $311.78. 3,993,672 shares of the company were exchanged, compared to its average volume of 3,568,955. The stock has a market capitalization of $222.95 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. McDonald's Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The firm has a fifty day simple moving average of $309.14 and a two-hundred day simple moving average of $300.09.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.70 earnings per share. On average, equities analysts expect that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.27%. McDonald's's dividend payout ratio (DPR) is presently 62.16%.

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.