Enterprise Financial Services Corp Cuts Stake in McDonald’s Corporation $MCD

Enterprise Financial Services Corp cut its stake in McDonald’s Corporation (NYSE:MCD) by 2.4% during the 1st quarter, HoldingsChannel reports. The firm owned 6,061 shares of the fast-food giant’s stock after selling 146 shares during the quarter. McDonald’s accounts for about 1.1% of Enterprise Financial Services Corp’s portfolio, making the stock its 17th largest position. Enterprise Financial Services Corp’s holdings in McDonald’s were worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MCD. Vanguard Group Inc. grew its stake in shares of McDonald’s by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after acquiring an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Northern Trust Corp grew its stake in shares of McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after acquiring an additional 97,966 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of McDonald’s by 11.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant’s stock valued at $1,454,963,000 after acquiring an additional 504,085 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $313.8010 on Friday. The company has a market capitalization of $223.93 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 3.20 and a beta of 0.52. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a 50-day simple moving average of $299.02 and a 200 day simple moving average of $305.84.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. McDonald’s’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s payout ratio is presently 60.67%.

Insider Buying and Selling

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCD. Citigroup raised their target price on McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Redburn Atlantic restated a “sell” rating and set a $260.00 target price (down from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. TD Securities reiterated a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday, June 5th. Bank of America decreased their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, TD Cowen lifted their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average price target of $326.38.

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.