McDonald’s Corporation $MCD Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC lowered its position in McDonald’s Corporation (NYSE:MCD) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,756 shares of the fast-food giant’s stock after selling 42 shares during the period. ELCO Management Co. LLC’s holdings in McDonald’s were worth $805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First American Trust FSB lifted its stake in McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after buying an additional 13,234 shares in the last quarter. Banque Transatlantique SA lifted its stake in McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after buying an additional 91,313 shares in the last quarter. Hamilton Capital LLC lifted its stake in McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after buying an additional 819 shares in the last quarter. Welch Group LLC lifted its stake in McDonald’s by 1.1% in the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock valued at $107,867,000 after buying an additional 18,393 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 1,000 shares of the 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 directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the 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 completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 5,463 shares of company stock valued at $1,692,186. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MCD shares. Morgan Stanley set a $335.00 target price on McDonald’s in a research note on Friday, October 17th. BMO Capital Markets upped their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Truist Financial reduced their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada assumed coverage on McDonald’s in a research note on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $323.43.

McDonald’s Trading Down 1.0%

Shares of MCD opened at $306.79 on Wednesday. The firm has a market capitalization of $218.93 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 3.31 and a beta of 0.50. The stock’s fifty day simple moving average is $306.44 and its 200 day simple moving average is $305.71. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last issued its 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. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $2.97 EPS. Sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $1.86 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio is 60.67%.

About McDonald’s

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.