Capital City Trust Co. FL Boosts Stake in McDonald’s Corporation $MCD

Capital City Trust Co. FL lifted its holdings in McDonald’s Corporation (NYSE:MCD) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,459 shares of the fast-food giant’s stock after purchasing an additional 368 shares during the period. Capital City Trust Co. FL’s holdings in McDonald’s were worth $2,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. First American Trust FSB raised its stake in McDonald’s by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after purchasing an additional 13,234 shares during the period. Banque Transatlantique SA raised its stake in McDonald’s by 58.0% during the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after purchasing an additional 91,313 shares during the period. Hamilton Capital LLC raised its stake in McDonald’s by 35.2% during the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after purchasing an additional 819 shares during the period. Red Door Wealth Management LLC increased its position in shares of McDonald’s by 1.9% during the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after acquiring an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of McDonald’s by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock valued at $107,867,000 after acquiring an additional 18,393 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock worth $2,273,407 over the last three months. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $300.72 on Friday. The stock has a market capitalization of $214.59 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. The company has a 50 day moving average price of $306.93 and a 200 day moving average price of $306.16. 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 announced its quarterly earnings data 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. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the business posted $2.97 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s payout ratio is currently 60.67%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley lifted 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 report on Monday, July 14th. Piper Sandler lifted their price target on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Barclays lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Citigroup lifted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $325.86.

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.