McDonald's Corporation $MCD Shares Purchased by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its stake in McDonald's Corporation by 4.9% during the second quarter, holding 33,737 shares valued at approximately $9.86 million.
• Insider sales were reported, with Joseph M. Erlinger selling 939 shares and CMO Edith Morgan Flatley selling 1,000 shares, reflecting decreases in their holdings.
• Several analysts have adjusted their price targets for McDonald's stock, with Truist Financial boosting its target from $356.00 to $360.00, while three analysts issued a sell rating for the stock.

Wesbanco Bank Inc. boosted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,737 shares of the fast-food giant's stock after purchasing an additional 1,570 shares during the period. Wesbanco Bank Inc.'s holdings in McDonald's were worth $9,857,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in McDonald's in the 4th quarter worth approximately $25,000. HFM Investment Advisors LLC bought a new position in McDonald's in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. bought a new position in McDonald's in the 1st quarter worth approximately $26,000. Pinney & Scofield Inc. bought a new position in McDonald's in the 4th quarter worth approximately $29,000. Finally, Abound Financial LLC bought a new position in McDonald's in the 1st quarter worth approximately $30,000. Institutional investors own 70.29% of the company's stock.

Insider Buying and Selling at McDonald's

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,341 shares of company stock worth $2,544,327 in the last ninety days. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

MCD has been the subject of several recent research reports. Truist Financial upped their target price on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price target on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. 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. Evercore ISI boosted their price target on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, TD Securities reaffirmed a "hold" rating and issued a $305.00 target price on shares of McDonald's in a research note on Thursday, June 5th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $325.86.

McDonald's Price Performance

McDonald's stock traded up $1.60 during trading hours on Friday, reaching $302.74. The stock had a trading volume of 2,195,792 shares, compared to its average volume of 3,533,175. The stock has a market cap of $216.04 billion, a PE ratio of 25.94, a PEG ratio of 3.11 and a beta of 0.50. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company has a fifty day simple moving average of $306.01 and a 200-day simple moving average of $306.47.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald's's revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $2.97 EPS. Research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

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