Haverford Trust Co Has $76.14 Million Stake in McDonald's Corporation $MCD

Key Points

• Haverford Trust Co reduced its stake in McDonald's Corporation by 1.1%, holding 243,739 shares worth approximately $76.14 million as of the most recent SEC filing.
• Brokerages have set varying price targets for McDonald's, with KeyCorp raising its target to $335.00 and Citigroup adjusting theirs to $365.00, amidst a consensus rating of "Hold" from analysts.
• McDonald's announced a quarterly dividend of $1.77 per share, translating to an annual yield of 2.3%, payable to shareholders on September 16th, 2023.

Haverford Trust Co decreased its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,739 shares of the fast-food giant's stock after selling 2,634 shares during the period. Haverford Trust Co's holdings in McDonald's were worth $76,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald's during the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. acquired a new stake in shares of McDonald's during the fourth quarter worth approximately $29,000. Abound Financial LLC acquired a new stake in shares of McDonald's during the first quarter worth approximately $30,000. Copia Wealth Management acquired a new stake in shares of McDonald's during the fourth quarter worth approximately $31,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of McDonald's during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCD. KeyCorp reissued an "overweight" rating and issued a $335.00 price target (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Citigroup raised their price target on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Erste Group Bank lowered shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Bank of America lowered their price target on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. Finally, Guggenheim reissued a "neutral" rating on shares of McDonald's in a report on Friday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and a consensus target price of $326.38.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares of the company's stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction on Thursday, July 10th. The stock was 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 approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is owned by company insiders.

McDonald's Stock Performance

Shares of MCD stock opened at $313.8010 on Friday. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a market cap of $223.93 billion, a PE ratio of 26.89, a PEG ratio of 3.19 and a beta of 0.52. The firm's 50 day moving average price is $299.02 and its two-hundred day moving average price is $305.72.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. During the same period last year, the firm earned $2.97 earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is currently 60.67%.

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.

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