OLD Point Trust & Financial Services N A Trims Stake in McDonald’s Corporation $MCD

OLD Point Trust & Financial Services N A decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 918 shares of the fast-food giant’s stock after selling 46 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in McDonald’s were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. HFM Investment Advisors LLC purchased a new stake in McDonald’s during the first quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s in the first quarter valued at $26,000. GFG Capital LLC purchased a new stake in shares of McDonald’s in the second quarter valued at $29,000. Abound Financial LLC purchased a new position in McDonald’s in the 1st quarter worth about $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s in the 1st quarter worth about $31,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $310.01 on Thursday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The firm has a fifty day moving average of $306.58 and a 200 day moving average of $305.51. The firm has a market cap of $221.22 billion, a PE ratio of 26.56, a PEG ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping 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%.McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.97 EPS. On average, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,463 shares of company stock worth $1,692,186. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Bank of America lowered their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Stifel Nicolaus lifted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Melius assumed coverage on shares of McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 price objective for the company. Finally, Guggenheim decreased their price objective on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $324.50.

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.