Community Trust & Investment Co. Reduces Holdings in McDonald’s Corporation $MCD

Community Trust & Investment Co. reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,255 shares of the fast-food giant’s stock after selling 66 shares during the period. Community Trust & Investment Co.’s holdings in McDonald’s were worth $3,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MCD. Nuveen LLC purchased a new position in McDonald’s during the 1st quarter valued at about $1,324,961,000. GAMMA Investing LLC increased its holdings in McDonald’s by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after acquiring an additional 3,488,982 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after buying an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in McDonald’s in the fourth quarter valued at approximately $211,824,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,341 shares of company stock valued at $2,544,327 in the last three months. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $304.51 on Thursday. The stock has a fifty day moving average price of $305.96 and a two-hundred day moving average price of $306.49. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a market capitalization of $217.30 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.97 earnings per share. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were 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 was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCD shares. Morgan Stanley boosted their target price on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Redburn Atlantic restated a “sell” rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. BMO Capital Markets upped their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Guggenheim reissued a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Company 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.