OLD Point Trust & Financial Services N A Trims Stake in McDonald’s Corporation $MCD

OLD Point Trust & Financial Services N A reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.8% in the 2nd quarter, Holdings Channel reports. The fund owned 918 shares of the fast-food giant’s stock after selling 46 shares during the period. OLD Point Trust & Financial Services N A’s holdings in McDonald’s were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of MCD. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the first quarter valued at approximately $26,000. Abound Financial LLC acquired a new stake in McDonald’s in the first quarter valued at approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald’s in the first quarter valued at approximately $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.3%

NYSE:MCD opened at $303.99 on Wednesday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company has a market capitalization of $216.93 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.09 and a beta of 0.50. The stock’s fifty day moving average is $306.72 and its two-hundred day moving average is $306.25.

McDonald’s (NYSE:MCD) last posted 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 for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Wall Street Analyst Weigh In

MCD has been the topic of several research analyst reports. Melius started coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective on the stock. Citigroup lifted their price target on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Bank of America lowered their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Morgan Stanley lifted their price target on McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $325.86.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock worth $2,273,407 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.