McDonald's Corporation (NYSE:MCD) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,759 shares of the fast-food giant's stock after purchasing an additional 2,982 shares during the period. Cullen Frost Bankers Inc.'s holdings in McDonald's were worth $29,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new position in shares of McDonald's during the fourth quarter worth $25,000. Abound Financial LLC purchased a new position in shares of McDonald's during the first quarter worth $30,000. Pinney & Scofield Inc. purchased a new position in shares of McDonald's during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new position in shares of McDonald's during the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald's during the first quarter valued at $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

MCD traded down $3.50 on Friday, reaching $296.87. 3,477,177 shares of the company's stock were exchanged, compared to its average volume of 3,527,889. The stock has a market cap of $212.27 billion, a PE ratio of 26.20, a P/E/G ratio of 3.10 and a beta of 0.53. McDonald's Corporation has a twelve month low of $246.12 and a twelve month high of $326.32. The stock's fifty day moving average price is $302.50 and its 200-day moving average price is $302.72.

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

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.38%. McDonald's's payout ratio is 62.49%.

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. Barclays raised their price target on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Piper Sandler raised their price target on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. BMO Capital Markets restated an "outperform" rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald's in a research report on Monday, May 5th. Truist Financial raised their price target on shares of McDonald's from $350.00 to $356.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Redburn Atlantic restated a "sell" rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $319.72.

Insider Activity

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the transaction, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. The trade was a 8.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock worth $1,165,843 over the last quarter. 0.25% of the stock is currently owned by company insiders.

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.