Folger Nolan Fleming Douglas Capital Management Inc. Sells 834 Shares of McDonald’s Corporation $MCD

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in McDonald’s Corporation (NYSE:MCD) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,771 shares of the fast-food giant’s stock after selling 834 shares during the period. McDonald’s makes up 1.7% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in McDonald’s were worth $15,126,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of McDonald’s by 0.3% in the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after purchasing an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of McDonald’s by 16.8% in 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 purchasing an additional 1,344,954 shares during the period. Northern Trust Corp increased its position in shares of McDonald’s by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after purchasing an additional 97,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in McDonald’s by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after buying an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value 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. The trade was a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock valued at $1,973,407 in the last ninety days. Insiders own 0.25% of the company’s stock.

McDonald’s Trading Up 1.1%

Shares of MCD stock opened at $297.07 on Friday. The business’s 50-day moving average price is $306.31 and its 200-day moving average price is $305.79. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The firm has a market capitalization of $211.99 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 earnings per share. On average, sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MCD shares. Bank of America reduced their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. Truist Financial raised their price objective on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Piper Sandler raised their price objective on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Barclays lifted their price target on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and a consensus target price of $325.18.

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.