Greenfield Savings Bank Reduces Position in McDonald’s Corporation $MCD

Greenfield Savings Bank trimmed its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 8,613 shares of the fast-food giant’s stock after selling 75 shares during the quarter. McDonald’s accounts for 1.1% of Greenfield Savings Bank’s investment portfolio, making the stock its 23rd largest holding. Greenfield Savings Bank’s holdings in McDonald’s were worth $2,516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mascagni Wealth Management Inc. bought a new stake in McDonald’s in the fourth quarter valued at about $25,000. HFM Investment Advisors LLC bought a new stake in McDonald’s in the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s in the first quarter valued at about $26,000. Pinney & Scofield Inc. bought a new stake in McDonald’s in the fourth quarter valued at about $29,000. Finally, Abound Financial LLC acquired a new position in McDonald’s in the first quarter valued at approximately $30,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other 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 transaction of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,341 shares of company stock valued at $2,544,327. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research reports. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and decreased their target price for the company from $346.00 to $315.00 in a research note on Friday, June 6th. BMO Capital Markets boosted their price objective on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Citigroup boosted their price objective on McDonald’s from $364.00 to $365.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Bank of America reduced their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Finally, Guggenheim reiterated a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $325.14.

McDonald’s Price Performance

MCD opened at $305.49 on Friday. The company has a market capitalization of $218.00 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 3.14 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The business has a 50 day moving average price of $305.33 and a two-hundred day moving average price of $306.59.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm’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 firm posted $2.97 earnings per share. Equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s dividend payout ratio is 60.67%.

McDonald’s 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.