McDonald’s Corporation $MCD Shares Purchased by Berkshire Bank

Berkshire Bank grew its stake in shares of McDonald’s Corporation (NYSE:MCD) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 2,686 shares of the fast-food giant’s stock after buying an additional 85 shares during the period. Berkshire Bank’s holdings in McDonald’s were worth $785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s during the fourth quarter worth about $25,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the first quarter worth about $26,000. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s during the first quarter worth about $26,000. Pinney & Scofield Inc. acquired a new position in shares of McDonald’s during the fourth quarter worth about $29,000. Finally, Abound Financial LLC acquired a new position in shares of McDonald’s during the first quarter worth about $30,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.4%

NYSE:MCD opened at $303.41 on Wednesday. The firm has a market capitalization of $216.51 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.50. The stock has a 50 day moving average of $305.73 and a 200-day moving average of $306.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 earnings per share. As a group, analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders 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 annualized dividend and a dividend yield of 2.3%. McDonald’s’s payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCD. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Evercore ISI boosted their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Piper Sandler boosted their price target on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Citigroup boosted their price target on McDonald’s from $364.00 to $365.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, TD Cowen boosted their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $325.14.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction that occurred on 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 approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,341 shares of company stock valued at $2,544,327. Corporate insiders own 0.25% of the company’s stock.

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.