Glenview Trust Co Sells 6,210 Shares of McDonald’s Corporation $MCD

Glenview Trust Co cut its holdings in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 6.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 90,761 shares of the fast-food giant’s stock after selling 6,210 shares during the quarter. Glenview Trust Co’s holdings in McDonald’s were worth $27,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Pittenger & Anderson Inc. boosted its position in shares of McDonald’s by 21.9% during the fourth quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock valued at $6,567,000 after buying an additional 3,866 shares during the last quarter. North Dakota State Investment Board purchased a new stake in shares of McDonald’s during the fourth quarter valued at $7,493,000. Schroder Investment Management Group boosted its position in shares of McDonald’s by 5.2% during the third quarter. Schroder Investment Management Group now owns 1,029,572 shares of the fast-food giant’s stock valued at $312,877,000 after buying an additional 51,039 shares during the last quarter. National Pension Service boosted its position in shares of McDonald’s by 2.5% during the third quarter. National Pension Service now owns 1,533,015 shares of the fast-food giant’s stock valued at $465,868,000 after buying an additional 37,744 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of McDonald’s during the third quarter valued at $1,697,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting McDonald’s

Here are the key news stories impacting McDonald’s this week:

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. Weiss Ratings cut McDonald’s from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Argus raised McDonald’s from a “hold” rating to a “buy” rating and set a $380.00 price objective on the stock in a research report on Friday, February 13th. Tigress Financial raised their target price on McDonald’s from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Guggenheim dropped their target price on McDonald’s from $325.00 to $320.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Finally, Morgan Stanley set a $331.00 target price on McDonald’s in a research report on Friday, May 8th. Seventeen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Get Our Latest Analysis on MCD

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 333 shares of McDonald’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $302.72, for a total transaction of $100,805.76. Following the sale, the insider owned 8,067 shares of the company’s stock, valued at approximately $2,442,042.24. This trade represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 5,585 shares of company stock worth $1,769,209. 0.26% of the stock is currently owned by company insiders.

McDonald’s Stock Up 0.1%

MCD stock opened at $282.48 on Monday. McDonald’s Corporation has a twelve month low of $271.98 and a twelve month high of $341.75. The stock has a market cap of $200.70 billion, a P/E ratio of 23.29, a PEG ratio of 2.81 and a beta of 0.43. The business’s 50-day moving average price is $299.71 and its 200-day moving average price is $309.34.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.09. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.47 billion. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 EPS. On average, equities research analysts expect that McDonald’s Corporation will post 12.93 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is 61.34%.

McDonald’s Company Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

Featured Stories

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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