Riverview Trust Co Cuts Holdings in McDonald’s Corporation $MCD

Riverview Trust Co lessened its stake in McDonald’s Corporation (NYSE:MCD) by 29.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,206 shares of the fast-food giant’s stock after selling 512 shares during the period. Riverview Trust Co’s holdings in McDonald’s were worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Nova Wealth Management Inc. bought a new stake in McDonald’s during the 1st quarter valued at $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s in the 1st quarter worth $26,000. Abound Financial LLC bought a new position in McDonald’s in the 1st quarter worth $30,000. Redmont Wealth Advisors LLC bought a new position in McDonald’s in the 1st quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of McDonald’s in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 1.0%

Shares of NYSE MCD opened at $300.81 on Thursday. The firm’s 50-day moving average price is $306.78 and its 200-day moving average price is $306.21. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a market cap of $214.66 billion, a PE ratio of 25.78, a PEG ratio of 3.09 and a beta of 0.51.

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 the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the business earned $2.97 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business 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 2.4%. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Morgan Stanley increased their price objective on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the company from $346.00 to $315.00 in a research report on Friday, June 6th. Finally, TD Cowen increased their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Eleven 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. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Hold” and an average price target of $325.86.

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.