City Holding Co. Acquires 271 Shares of McDonald’s Corporation $MCD

City Holding Co. boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,133 shares of the fast-food giant’s stock after purchasing an additional 271 shares during the quarter. City Holding Co.’s holdings in McDonald’s were worth $6,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 52 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of McDonald’s in the fourth quarter valued at $25,000. Parallel Advisors LLC increased its position in McDonald’s by 1.6% in the first quarter. Parallel Advisors LLC now owns 15,543 shares of the fast-food giant’s stock worth $4,854,000 after purchasing an additional 248 shares during the last quarter. Finally, Doliver Advisors LP raised its stake in McDonald’s by 7.2% during the first quarter. Doliver Advisors LP now owns 4,778 shares of the fast-food giant’s stock valued at $1,493,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer 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 disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock worth $2,273,407 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCD has been the topic of several recent research reports. Argus cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Morgan Stanley raised their target price on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a report on Monday, July 14th. Loop Capital downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the company from $346.00 to $315.00 in a report on Friday, June 6th. KeyCorp restated an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Finally, Truist Financial increased their price target on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $325.86.

McDonald’s Stock Performance

NYSE MCD opened at $305.10 on Friday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The company has a market capitalization of $217.72 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.50. The company’s 50-day simple moving average is $306.48 and its two-hundred day simple moving average is $306.19.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the firm earned $2.97 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

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

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.