BankPlus Trust Department Lowers Stock Holdings in McDonald’s Corporation $MCD

BankPlus Trust Department reduced its stake in McDonald’s Corporation (NYSE:MCD) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,297 shares of the fast-food giant’s stock after selling 34 shares during the quarter. BankPlus Trust Department’s holdings in McDonald’s were worth $671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. WealthPlan Investment Management LLC grew its stake in shares of McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after purchasing an additional 32 shares during the last quarter. CVA Family Office LLC grew its stake in shares of McDonald’s by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock valued at $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in shares of McDonald’s by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant’s stock valued at $417,000 after buying an additional 33 shares in the last quarter. Security Financial Services INC. grew its holdings in McDonald’s by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after acquiring an additional 33 shares during the period. Finally, Stockman Wealth Management Inc. grew its holdings in McDonald’s by 1.8% during the first quarter. Stockman Wealth Management Inc. now owns 1,964 shares of the fast-food giant’s stock worth $613,000 after acquiring an additional 34 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is owned by company insiders.

McDonald’s Stock Performance

Shares of MCD stock opened at $296.35 on Wednesday. The stock has a fifty day moving average price of $306.74 and a 200 day moving average price of $306.02. The stock has a market cap of $211.47 billion, a PE ratio of 25.39, a P/E/G ratio of 3.01 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results 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. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

Analyst Ratings Changes

MCD has been the topic of a number of recent analyst reports. Barclays upped their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. TD Cowen upped their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Evercore ISI upped their price objective on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Bank of America dropped their price objective on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. lifted their price objective on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target 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.