Amalgamated Bank Increases Holdings in McDonald’s Corporation $MCD

Amalgamated Bank increased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,449 shares of the fast-food giant’s stock after purchasing an additional 1,876 shares during the period. Amalgamated Bank’s holdings in McDonald’s were worth $42,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC purchased a new stake in McDonald’s during the 1st quarter worth $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s in the 1st quarter worth $26,000. GFG Capital LLC acquired a new position in McDonald’s in the 2nd quarter worth $29,000. Abound Financial LLC acquired a new position in McDonald’s in the 1st quarter worth $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald’s in the 1st quarter worth $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction 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 owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,463 shares of company stock worth $1,692,186. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCD shares. Royal Bank Of Canada initiated coverage on shares of McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. TD Cowen upped their target price on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Finally, BMO Capital Markets upped their target price on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Hold” and an average price target of $323.43.

McDonald’s Trading Down 1.4%

NYSE MCD opened at $302.18 on Thursday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock has a market cap of $215.64 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 3.28 and a beta of 0.50. The company has a 50-day moving average price of $306.22 and a two-hundred day moving average price of $305.66.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate 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 prior year, the firm earned $2.97 EPS. McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. McDonald’s’s payout ratio is 60.67%.

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.