Texas Bank & Trust Co Sells 62 Shares of McDonald’s Corporation $MCD

Texas Bank & Trust Co lowered its stake in McDonald’s Corporation (NYSE:MCD) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,188 shares of the fast-food giant’s stock after selling 62 shares during the quarter. McDonald’s comprises 1.3% of Texas Bank & Trust Co’s portfolio, making the stock its 19th biggest holding. Texas Bank & Trust Co’s holdings in McDonald’s were worth $3,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Brighton Jones LLC raised its stake in McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the period. Revolve Wealth Partners LLC increased its stake in McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of McDonald’s by 15.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock worth $60,722,000 after purchasing an additional 27,774 shares during the period. GHE LLC boosted its holdings in shares of McDonald’s by 0.9% in the 4th quarter. GHE LLC now owns 14,677 shares of the fast-food giant’s stock worth $4,255,000 after purchasing an additional 136 shares during the period. Finally, Triumph Capital Management purchased a new position in shares of McDonald’s in the 4th quarter worth approximately $331,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCD. Northcoast Research cut McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a report on Thursday, July 10th. Bank of America dropped their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Argus cut McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Finally, Truist Financial boosted their price objective on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $326.38.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at $2,657,400. This represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,341 shares of company stock valued at $2,229,327. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Up 0.5%

Shares of MCD stock opened at $313.68 on Friday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock has a market capitalization of $223.84 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 3.18 and a beta of 0.52. The stock has a fifty day simple moving average of $301.22 and a two-hundred day simple moving average of $306.19.

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 during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.97 EPS. Research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald’s’s dividend payout ratio is currently 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.