Greenleaf Trust Reduces Stake in McDonald's Corporation $MCD

Key Points

• Greenleaf Trust reduced its stake in McDonald's Corporation by 25.6%, culminating in ownership of 25,635 shares valued at approximately $7.49 million.
• Several hedge funds increased their positions in McDonald's, with Halbert Hargrove Global Advisors lifting its stake by a whopping 2,625%.
• McDonald’s reported an earnings per share (EPS) of $3.19 for the last quarter, exceeding analyst estimates and showing a 5.4% increase in revenue year-over-year.

Greenleaf Trust lowered its position in McDonald's Corporation (NYSE:MCD - Free Report) by 25.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,635 shares of the fast-food giant's stock after selling 8,840 shares during the period. Greenleaf Trust's holdings in McDonald's were worth $7,490,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted its holdings in McDonald's by 2,625.0% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 109 shares of the fast-food giant's stock valued at $32,000 after acquiring an additional 105 shares during the period. XML Financial LLC increased its position in shares of McDonald's by 11.7% during the 2nd quarter. XML Financial LLC now owns 7,721 shares of the fast-food giant's stock valued at $2,256,000 after purchasing an additional 810 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of McDonald's by 3.0% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 2,690 shares of the fast-food giant's stock worth $787,000 after purchasing an additional 79 shares during the period. Smith Chas P & Associates PA Cpas boosted its holdings in shares of McDonald's by 0.9% in the second quarter. Smith Chas P & Associates PA Cpas now owns 176,983 shares of the fast-food giant's stock worth $51,709,000 after buying an additional 1,589 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its position in McDonald's by 10.2% during the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,376 shares of the fast-food giant's stock valued at $694,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MCD shares. Piper Sandler increased their price target on shares of McDonald's from $314.00 to $325.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. TD Cowen upped their price objective on McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Bank of America decreased their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. KeyCorp reissued an "overweight" rating and set a $335.00 price target (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Finally, Barclays upped their price target on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $325.86.

McDonald's Price Performance

MCD opened at $302.56 on Tuesday. The firm has a market capitalization of $215.91 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49. The business's 50-day moving average is $306.62 and its two-hundred day moving average is $306.27. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald's's payout ratio is currently 60.67%.

Insiders Place Their Bets

In other news, 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 transaction of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company's stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,402 shares of company stock valued at $2,273,407. Company insiders own 0.25% of the company's stock.

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.

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