Ledyard National Bank Lowers Holdings in McDonald’s Corporation (NYSE:MCD)

Ledyard National Bank lowered its position in McDonald’s Corporation (NYSE:MCD) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,543 shares of the fast-food giant’s stock after selling 89 shares during the quarter. Ledyard National Bank’s holdings in McDonald’s were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after acquiring an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in McDonald’s by 15.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock worth $60,722,000 after acquiring an additional 27,774 shares in the last quarter. Fisher Funds Management LTD bought a new position in McDonald’s during the 4th quarter worth about $1,882,000. Finally, TCW Group Inc. grew its holdings in McDonald’s by 2.4% during the 4th quarter. TCW Group Inc. now owns 12,960 shares of the fast-food giant’s stock worth $3,757,000 after acquiring an additional 305 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider now directly owns 10,222 shares of the company’s stock, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 2,817 shares of company stock worth $865,843 in the last three months. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 0.7%

MCD stock opened at $289.42 on Tuesday. The firm has a 50 day moving average of $310.02 and a 200 day moving average of $302.79. The stock has a market capitalization of $206.94 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56. McDonald’s Corporation has a 52 week low of $243.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald’s’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the business earned $2.70 EPS. On average, equities research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. KeyCorp increased their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. TD Securities reiterated a “hold” rating and set a $305.00 target price on shares of McDonald’s in a report on Thursday, June 5th. Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Finally, Piper Sandler increased their target price on shares of McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $321.79.

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.