Thomasville National Bank Trims Stake in McDonald's Corporation $MCD

Key Points

• Thomasville National Bank has reduced its holdings in McDonald's Corporation by 3.9%, selling 964 shares, leaving the bank with 23,750 shares valued at approximately $6.94 million.
• McDonald's reported earnings of $3.19 per share for the quarter, exceeding estimates, with a revenue of $6.84 billion, reflecting a 5.4% increase compared to the same period last year.
• The company recently declared a quarterly dividend of $1.77 per share, with a current annualized dividend yield of 2.3% and a payout ratio of 60.67%.

Thomasville National Bank trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,750 shares of the fast-food giant's stock after selling 964 shares during the quarter. Thomasville National Bank's holdings in McDonald's were worth $6,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in shares of McDonald's in the first quarter valued at $26,000. HFM Investment Advisors LLC bought a new position in shares of McDonald's during the 1st quarter valued at about $26,000. Mascagni Wealth Management Inc. bought a new stake in McDonald's in the 4th quarter valued at approximately $25,000. Abound Financial LLC bought a new stake in McDonald's in the 1st quarter valued at approximately $30,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of McDonald's during the 4th quarter worth approximately $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction dated 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 owned 99 shares of the company's stock, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business'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 transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,402 shares of company stock worth $2,273,407. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCD. TD Securities reissued a "hold" rating and set a $305.00 target price on shares of McDonald's in a report on Thursday, June 5th. BMO Capital Markets upped their target price on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Piper Sandler upped their target price on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, The Goldman Sachs Group raised McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price for the company in a report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, McDonald's presently has a consensus rating of "Hold" and a consensus target price of $325.86.

McDonald's Trading Up 0.4%

Shares of NYSE MCD traded up $1.09 during mid-day trading on Monday, hitting $303.47. The company had a trading volume of 3,611,560 shares, compared to its average volume of 3,553,384. The company has a market capitalization of $216.56 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 3.08 and a beta of 0.50. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The stock's 50-day moving average price is $306.06 and its 200-day moving average price is $306.41.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $2.97 earnings per share. As a group, equities research analysts forecast that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

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

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.