Somerset Trust Co Sells 90 Shares of McDonald’s Corporation $MCD

Somerset Trust Co lowered its position in shares of McDonald’s Corporation (NYSE:MCD) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,321 shares of the fast-food giant’s stock after selling 90 shares during the quarter. McDonald’s comprises approximately 1.7% of Somerset Trust Co’s investment portfolio, making the stock its 17th largest position. Somerset Trust Co’s holdings in McDonald’s were worth $5,353,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in McDonald’s in the fourth quarter worth approximately $25,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald’s in the first quarter worth approximately $26,000. Pinney & Scofield Inc. purchased a new stake in McDonald’s in the fourth quarter worth approximately $29,000. Finally, Abound Financial LLC purchased a new stake in McDonald’s in the first quarter worth approximately $30,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,341 shares of company stock worth $2,544,327 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several research reports. Citigroup raised their target price on shares of McDonald’s from $364.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Bank of America dropped their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Stifel Nicolaus lifted their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Truist Financial lifted their price target on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $325.14.

McDonald’s Stock Performance

MCD opened at $305.49 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm’s fifty day moving average is $305.33 and its 200 day moving average is $306.59. The stock has a market cap 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 (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the company earned $2.97 EPS. McDonald’s’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

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