McDonald's Corporation (NYSE:MCD) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,141 shares of the fast-food giant's stock after selling 886 shares during the quarter. WASHINGTON TRUST Co's holdings in McDonald's were worth $11,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MCD. Mascagni Wealth Management Inc. acquired a new stake in McDonald's during the 4th quarter worth about $25,000. Atala Financial Inc purchased a new position in McDonald's during the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new position in McDonald's during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its position in McDonald's by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of McDonald's during the 4th quarter valued at approximately $30,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on MCD. Robert W. Baird raised their price target on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Redburn Atlantic restated a "sell" rating and set a $260.00 target price (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Erste Group Bank cut McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. BTIG Research reissued a "neutral" rating on shares of McDonald's in a report on Tuesday, April 22nd. Finally, Barclays boosted their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, McDonald's has an average rating of "Hold" and an average price target of $321.79.

McDonald's Price Performance

Shares of NYSE:MCD opened at $291.94 on Monday. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The firm has a market capitalization of $208.74 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.04 and a beta of 0.56. The company's fifty day moving average price is $308.26 and its 200 day moving average price is $302.52.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting 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 last year, the firm posted $2.70 EPS. On average, sell-side analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.43%. McDonald's's dividend payout ratio is currently 62.49%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald'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 sale, the insider now directly owns 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,817 shares of company stock worth $865,843. 0.25% of the stock is currently owned by corporate insiders.

McDonald's Company 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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