Davidson Trust Co. Sells 251 Shares of McDonald’s Corporation $MCD

Davidson Trust Co. trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,127 shares of the fast-food giant’s stock after selling 251 shares during the period. McDonald’s comprises about 2.7% of Davidson Trust Co.’s portfolio, making the stock its 5th largest holding. Davidson Trust Co.’s holdings in McDonald’s were worth $5,881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCD. Nova Wealth Management Inc. acquired a new stake in McDonald’s in the 1st quarter valued at about $26,000. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the 1st quarter valued at about $26,000. Abound Financial LLC acquired a new stake in McDonald’s in the 1st quarter valued at about $30,000. GFG Capital LLC acquired a new stake in McDonald’s in the 2nd quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in McDonald’s in the 1st quarter valued at about $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

NYSE:MCD opened at $304.59 on Wednesday. The stock has a market capitalization of $217.35 billion, a P/E ratio of 26.10, a PEG ratio of 3.16 and a beta of 0.50. The company has a 50 day moving average price of $306.34 and a 200 day moving average price of $305.63. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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 analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $2.97 EPS. Research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,402 shares of company stock worth $1,973,407. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent research reports. Evercore ISI increased their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Truist Financial cut their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday. Bank of America cut their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their price target on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $324.73.

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.