Cape ANN Savings Bank Sells 465 Shares of McDonald’s Corporation $MCD

Cape ANN Savings Bank cut its holdings in McDonald’s Corporation (NYSE:MCD) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,563 shares of the fast-food giant’s stock after selling 465 shares during the quarter. McDonald’s makes up 1.0% of Cape ANN Savings Bank’s holdings, making the stock its 23rd biggest holding. Cape ANN Savings Bank’s holdings in McDonald’s were worth $1,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new stake in McDonald’s during the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD raised 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 during the last quarter. Goldman Sachs Group Inc. raised 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 during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after purchasing an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after purchasing an additional 407,982 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $300.72 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a 50 day simple moving average of $306.93 and a two-hundred day simple moving average of $306.17. The company has a market cap of $214.59 billion, a P/E ratio of 25.77, a PEG ratio of 3.05 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 EPS. On average, research analysts predict 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 Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is 60.67%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,402 shares of company stock worth $2,273,407 over the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCD shares. Barclays raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Truist Financial raised their price objective on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. KeyCorp reiterated an “overweight” rating and issued a $335.00 target price (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Finally, Morgan Stanley boosted their price target on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Twelve analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $325.86.

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.