Arrow Financial Corp Reduces Position in McDonald's Corporation (NYSE:MCD)

Arrow Financial Corp decreased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,894 shares of the fast-food giant's stock after selling 2,586 shares during the quarter. Arrow Financial Corp's holdings in McDonald's were worth $2,778,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MCD. Mascagni Wealth Management Inc. bought a new stake in McDonald's in the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in McDonald's in the 4th quarter worth approximately $29,000. GKV Capital Management Co. Inc. bought a new stake in McDonald's in the 4th quarter worth approximately $30,000. Abound Financial LLC bought a new stake in McDonald's in the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management bought a new stake in McDonald's in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insiders Place Their Bets

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction 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 transaction, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,817 shares of company stock valued at $1,147,992. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent research reports. Truist Financial boosted their target price on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Piper Sandler boosted their target price on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Melius initiated coverage on McDonald's in a research report on Monday, July 14th. They issued a "sell" rating and a $250.00 target price for the company. KeyCorp dropped their target price on McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Finally, Bank of America lowered their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $322.00.

McDonald's Trading Down 0.6%

MCD traded down $1.69 during trading on Thursday, reaching $296.43. The stock had a trading volume of 1,372,452 shares, compared to its average volume of 3,589,592. The stock's 50 day moving average is $301.79 and its two-hundred day moving average is $302.83. The company has a market capitalization of $211.96 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 3.13 and a beta of 0.53. McDonald's Corporation has a one year low of $250.23 and a one year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.67. The business had revenue of $5.96 billion during 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 firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 earnings per share. On average, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. McDonald's's dividend payout ratio (DPR) is 62.49%.

About McDonald's

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.