Eastern Bank trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,660 shares of the fast-food giant's stock after selling 2,436 shares during the period. Eastern Bank's holdings in McDonald's were worth $42,265,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Aberdeen Group plc increased its holdings in shares of McDonald's by 4.8% in the second quarter. Aberdeen Group plc now owns 537,380 shares of the fast-food giant's stock worth $156,861,000 after purchasing an additional 24,736 shares during the last quarter. First Fiduciary Investment Counsel Inc. increased its holdings in shares of McDonald's by 1.8% in the second quarter. First Fiduciary Investment Counsel Inc. now owns 34,061 shares of the fast-food giant's stock worth $9,952,000 after purchasing an additional 602 shares during the last quarter. Strong Tower Advisory Services increased its holdings in shares of McDonald's by 5.2% in the second quarter. Strong Tower Advisory Services now owns 8,547 shares of the fast-food giant's stock worth $2,497,000 after purchasing an additional 425 shares during the last quarter. PDS Planning Inc increased its holdings in shares of McDonald's by 3.1% in the second quarter. PDS Planning Inc now owns 4,229 shares of the fast-food giant's stock worth $1,236,000 after purchasing an additional 128 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of McDonald's by 8.2% in the second quarter. Blue Trust Inc. now owns 16,711 shares of the fast-food giant's stock worth $4,882,000 after purchasing an additional 1,262 shares during the last quarter. 70.29% of the stock is owned by institutional investors.
McDonald's Price Performance
Shares of NYSE:MCD opened at $297.07 on Friday. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The business has a 50 day simple moving average of $306.31 and a two-hundred day simple moving average of $305.79. The firm has a market capitalization of $211.99 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50.
McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.
McDonald's Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald's's payout ratio is 60.67%.
Analyst Upgrades and Downgrades
MCD has been the topic of several research reports. Guggenheim reduced their target price on McDonald's from $310.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday. KeyCorp reaffirmed an "overweight" rating and issued a $335.00 target price (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Evercore ISI boosted their price objective on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Piper Sandler boosted their price objective on McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $325.18.
Get Our Latest Analysis on MCD
Insiders Place Their Bets
In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company's stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,402 shares of company stock worth $1,973,407 over the last three months. 0.25% of the stock is currently owned by corporate insiders.
McDonald's Profile
(
Free Report)
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.
Further Reading
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