Union Savings Bank Has $1.36 Million Stock Holdings in McDonald’s Corporation (NYSE:MCD)

Union Savings Bank lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 4.3% during the first quarter, HoldingsChannel.com reports. The fund owned 4,341 shares of the fast-food giant’s stock after selling 194 shares during the period. McDonald’s makes up about 0.7% of Union Savings Bank’s holdings, making the stock its 27th biggest holding. Union Savings Bank’s holdings in McDonald’s were worth $1,356,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of McDonald’s during the fourth quarter worth $2,725,190,000. GAMMA Investing LLC grew its position in McDonald’s by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock worth $1,092,645,000 after acquiring an additional 3,488,982 shares during the last quarter. Raymond James Financial Inc. acquired a new position in McDonald’s in the 4th quarter worth about $703,074,000. Castlekeep Investment Advisors LLC bought a new position in McDonald’s in the fourth quarter valued at about $350,935,000. Finally, Northern Trust Corp boosted its position in McDonald’s by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after buying an additional 895,896 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Citigroup lifted their price objective on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Redburn Atlantic reissued a “sell” rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. TD Securities restated a “hold” rating and set a $305.00 price target on shares of McDonald’s in a report on Thursday, June 5th. Finally, Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $321.79.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $286.75 on Friday. The company has a 50 day simple moving average of $310.55 and a two-hundred day simple moving average of $302.78. The firm has a market cap of $205.04 billion, a PE ratio of 25.31, a PEG ratio of 3.02 and a beta of 0.56. McDonald’s Corporation has a 1 year low of $243.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $2.70 earnings per share. As a group, research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.47%. McDonald’s’s payout ratio is 62.49%.

McDonald’s 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.