Arrow Financial Corp Has $2.78 Million Stock Holdings in McDonald's Corporation (NYSE:MCD)

Arrow Financial Corp trimmed its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 22.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Crestwood Advisors Group LLC boosted its holdings in shares of McDonald's by 24.0% during the 1st quarter. Crestwood Advisors Group LLC now owns 32,850 shares of the fast-food giant's stock valued at $10,261,000 after purchasing an additional 6,363 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its stake in McDonald's by 3.2% in the first quarter. Wealth Dimensions Group Ltd. now owns 4,150 shares of the fast-food giant's stock worth $1,296,000 after purchasing an additional 130 shares during the last quarter. 4WEALTH Advisors Inc. grew its stake in McDonald's by 5.4% in the first quarter. 4WEALTH Advisors Inc. now owns 3,222 shares of the fast-food giant's stock worth $1,006,000 after purchasing an additional 164 shares in the last quarter. West Wealth Group LLC grew its position in shares of McDonald's by 1.8% during the 1st quarter. West Wealth Group LLC now owns 2,326 shares of the fast-food giant's stock worth $730,000 after buying an additional 42 shares in the last quarter. Finally, RD Lewis Holdings Inc. increased its holdings in McDonald's by 3.5% during the first quarter. RD Lewis Holdings Inc. now owns 9,753 shares of the fast-food giant's stock valued at $3,043,000 after buying an additional 332 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,817 shares of company stock valued at $1,165,843. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial lifted their price target on shares of McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Melius assumed coverage on shares of McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 target price for the company. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. Finally, KeyCorp reduced their price target on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $319.72.

McDonald's Stock Down 0.5%

MCD stock traded down $1.45 during midday trading on Monday, hitting $295.62. The company's stock had a trading volume of 3,036,371 shares, compared to its average volume of 3,526,313. McDonald's Corporation has a 52-week low of $246.12 and a 52-week high of $326.32. The firm has a 50-day simple moving average of $302.50 and a 200-day simple moving average of $302.88. The firm has a market capitalization of $211.38 billion, a P/E ratio of 25.39, a PEG ratio of 3.07 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.70 earnings per share. On average, sell-side analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's payout ratio is currently 62.49%.

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.