McDonald’s Corporation (NYSE:MCD) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 120,032 shares of the fast-food giant’s stock after selling 1,546 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McDonald’s were worth $38,228,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in McDonald’s in the fourth quarter valued at about $2,725,190,000. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 3,488,982 shares during the period. Raymond James Financial Inc. purchased a new position in McDonald’s in the 4th quarter worth approximately $703,074,000. Castlekeep Investment Advisors LLC acquired a new stake in McDonald’s in the fourth quarter valued at approximately $350,935,000. Finally, Northern Trust Corp lifted its position in shares of McDonald’s by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after purchasing an additional 895,896 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

MCD stock opened at $285.79 on Friday. McDonald’s Corporation has a 1 year low of $243.53 and a 1 year high of $326.32. The stock has a market capitalization of $204.35 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.98 and a beta of 0.56. The stock’s fifty day moving average is $308.63 and its two-hundred day moving average is $302.49.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. McDonald’s’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $2.70 EPS. As a group, analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.48%. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the sale, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,817 shares of company stock valued at $865,843. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of recent analyst reports. Northcoast Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Piper Sandler upped their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $345.00 target price (up from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Finally, Barclays lifted their price target on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and an average price target of $321.79.

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.