Somerset Trust Co Acquires 865 Shares of McDonald’s Co. (NYSE:MCD)

Somerset Trust Co raised its holdings in McDonald’s Co. (NYSE:MCD) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,411 shares of the fast-food giant’s stock after buying an additional 865 shares during the period. McDonald’s comprises approximately 2.0% of Somerset Trust Co’s investment portfolio, making the stock its 13th biggest holding. Somerset Trust Co’s holdings in McDonald’s were worth $5,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCD. Mascagni Wealth Management Inc. bought a new stake in McDonald’s in the fourth quarter valued at approximately $25,000. Atala Financial Inc bought a new stake in McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial bought a new position in shares of McDonald’s during the fourth quarter worth approximately $29,000. Finally, Pinney & Scofield Inc. bought a new position in shares of McDonald’s during the fourth quarter worth approximately $29,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total value of $299,071.50. Following the transaction, the insider now owns 12,100 shares in the company, valued at approximately $3,853,850. This trade represents a 7.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $313.68 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32. The business’s fifty day moving average is $312.40 and its 200-day moving average is $302.00. The firm has a market cap of $224.29 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.10 and a beta of 0.57.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the company posted $2.70 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, research analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.26%. McDonald’s’s payout ratio is 62.49%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCD. KeyCorp increased their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Piper Sandler increased their target price on McDonald’s from $292.00 to $314.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Northcoast Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Citigroup increased their target price on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Barclays increased their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $325.91.

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.