Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stake in McDonald's Corporation $MCD

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in McDonald's by 0.7%, now holding 119,141 shares worth about $34.8 million.
• McDonald's recently reported earnings of $3.19 per share, exceeding expectations, and also announced an increase in its quarterly dividend to $1.86, reflecting a 2.4% yield.
• Analysts remain optimistic with target prices ranging from $320 to $350, signaling a positive outlook on McDonald's stock.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,141 shares of the fast-food giant's stock after selling 891 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in McDonald's were worth $34,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. First American Trust FSB raised its holdings in shares of McDonald's by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock worth $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA raised its holdings in shares of McDonald's by 58.0% during the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock worth $71,829,000 after purchasing an additional 91,313 shares during the last quarter. Hamilton Capital LLC raised its holdings in shares of McDonald's by 35.2% during the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock worth $982,000 after purchasing an additional 819 shares during the last quarter. Welch Group LLC raised its holdings in shares of McDonald's by 1.1% during the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant's stock worth $60,188,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its holdings in shares of McDonald's by 1.9% during the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock worth $1,788,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Stock Up 0.8%

Shares of NYSE MCD opened at $310.01 on Thursday. The company's 50-day simple moving average is $306.58 and its 200-day simple moving average is $305.51. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a market cap of $221.22 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 3.25 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 net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last 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 anticipate that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is a positive change from McDonald's's previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald's's dividend payout ratio (DPR) is 60.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCD. KeyCorp reissued an "overweight" rating and set a $335.00 target price on shares of McDonald's in a report on Monday. Wells Fargo & Company reduced their target price on shares of McDonald's from $350.00 to $340.00 and set an "overweight" rating for the company in a report on Thursday, October 16th. Royal Bank Of Canada began coverage on shares of McDonald's in a report on Wednesday, October 8th. They set a "sector perform" rating and a $320.00 target price for the company. Piper Sandler reissued a "neutral" rating and set a $325.00 target price on shares of McDonald's in a report on Wednesday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of McDonald's in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, McDonald's presently has an average rating of "Hold" and an average price target of $324.50.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm's stock in a transaction dated 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 directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,463 shares of company stock worth $1,692,186 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

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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