Trust Co. of Toledo NA OH Acquires 72 Shares of McDonald’s Corporation $MCD

Trust Co. of Toledo NA OH boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 37,307 shares of the fast-food giant’s stock after acquiring an additional 72 shares during the period. McDonald’s comprises 1.2% of Trust Co. of Toledo NA OH’s holdings, making the stock its 14th biggest position. Trust Co. of Toledo NA OH’s holdings in McDonald’s were worth $10,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCD. Nuveen LLC bought a new stake in shares of McDonald’s during the 1st quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD raised its stake in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after purchasing an additional 815,768 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after purchasing an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after buying an additional 407,982 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $297.07 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a market cap of $211.99 billion, a PE ratio of 25.46, a PEG ratio of 3.09 and a beta of 0.50. The firm’s fifty day moving average price is $306.31 and its two-hundred day moving average price is $305.79.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for 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%.McDonald’s’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm 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 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Analysts Set New Price Targets

Several equities analysts have recently commented on MCD shares. Guggenheim dropped their target price on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday. Melius initiated coverage on shares of McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective on the stock. Citigroup boosted their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Truist Financial raised their target price on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Hold” and a consensus price target of $325.18.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,402 shares of company stock valued at $1,973,407. 0.25% of the stock is owned by insiders.

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.