Cape ANN Savings Bank Has $1.63 Million Stock Position in McDonald’s Corporation $MCD

Cape ANN Savings Bank cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 7.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,563 shares of the fast-food giant’s stock after selling 465 shares during the period. McDonald’s makes up approximately 1.0% of Cape ANN Savings Bank’s investment portfolio, making the stock its 23rd biggest holding. Cape ANN Savings Bank’s holdings in McDonald’s were worth $1,625,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s during the first quarter worth $26,000. Abound Financial LLC purchased a new stake in McDonald’s in the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in McDonald’s during the 1st quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in McDonald’s during the 1st quarter valued at $31,000. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MCD shares. BMO Capital Markets upped their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a report on Saturday, September 27th. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. Barclays lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Melius assumed coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 target price on the stock. Twelve research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Stock Performance

Shares of MCD stock opened at $300.72 on Friday. The firm has a market cap of $214.59 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 3.05 and a beta of 0.50. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The firm’s 50-day simple moving average is $306.93 and its two-hundred day simple moving average is $306.17.

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. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 EPS. Analysts forecast 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 was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s payout ratio is presently 60.67%.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

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.