US Bancorp DE Sells 16,037 Shares of McDonald’s Corporation $MCD

US Bancorp DE decreased its holdings in McDonald’s Corporation (NYSE:MCD) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 966,300 shares of the fast-food giant’s stock after selling 16,037 shares during the period. US Bancorp DE’s holdings in McDonald’s were worth $282,324,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MCD. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the first quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s during the first quarter valued at approximately $26,000. Abound Financial LLC bought a new position in McDonald’s during the first quarter valued at approximately $30,000. Redmont Wealth Advisors LLC bought a new position in McDonald’s during the first quarter valued at approximately $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in McDonald’s during the first quarter valued at approximately $31,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCD. Bank of America dropped 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. Evercore ISI increased their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Guggenheim reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. Melius began coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 price target for the company. Finally, Morgan Stanley increased their price target on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, McDonald’s has an average rating of “Hold” and an average price target of $324.73.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,402 shares of company stock valued at $1,973,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $294.44 on Thursday. The business’s 50 day moving average price is $306.56 and its 200-day moving average price is $305.94. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The company has a market cap of $210.11 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 3.02 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the business posted $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 predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

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.