Comerica Bank Sells 11,381 Shares of McDonald’s Co. (NYSE:MCD)

Comerica Bank cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 248,994 shares of the fast-food giant’s stock after selling 11,381 shares during the period. Comerica Bank’s holdings in McDonald’s were worth $72,181,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Atala Financial Inc bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of McDonald’s in the fourth quarter worth approximately $27,000. Collier Financial purchased a new stake in shares of McDonald’s in the fourth quarter worth $29,000. Fairway Wealth LLC raised its position in shares of McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of McDonald’s during the 4th quarter valued at $30,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares of the company’s stock, valued at $3,853,850. This represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,136 shares of company stock worth $8,676,247 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on MCD shares. BMO Capital Markets increased their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. TD Securities reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Monday, February 10th. Bank of America upped their price objective on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Finally, KeyCorp lifted their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $322.74.

McDonald’s Stock Down 0.7 %

MCD opened at $314.61 on Wednesday. The company has a market cap of $224.97 billion, a PE ratio of 27.62, a P/E/G ratio of 3.10 and a beta of 0.62. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The business has a 50 day moving average price of $308.71 and a two-hundred day moving average price of $299.93.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, sell-side analysts expect that McDonald’s Co. 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 Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Monday, March 3rd. McDonald’s’s payout ratio is currently 62.16%.

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.