McDonald’s Corporation $MCD Holdings Boosted by Glenview Trust Co

Glenview Trust Co raised its stake in McDonald’s Corporation (NYSE:MCDFree Report) by 20.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,596 shares of the fast-food giant’s stock after acquiring an additional 18,835 shares during the period. Glenview Trust Co’s holdings in McDonald’s were worth $34,061,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Peterson Wealth Services grew its position in shares of McDonald’s by 3,294.5% during the fourth quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant’s stock worth $3,600,000 after acquiring an additional 11,432 shares during the last quarter. Harbour Investments Inc. lifted its position in McDonald’s by 84.4% in the 4th quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock valued at $10,853,000 after purchasing an additional 16,252 shares during the last quarter. Capital International Sarl lifted its position in McDonald’s by 10.4% in the 4th quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant’s stock valued at $19,639,000 after purchasing an additional 6,079 shares during the last quarter. North Dakota State Investment Board acquired a new position in McDonald’s during the 4th quarter valued at about $7,493,000. Finally, Pittenger & Anderson Inc. boosted its stake in McDonald’s by 21.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock valued at $6,567,000 after purchasing an additional 3,866 shares during the period. 70.29% of the stock is owned by institutional investors.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

Analyst Ratings Changes

Several brokerages have commented on MCD. KeyCorp restated an “overweight” rating on shares of McDonald’s in a research note on Wednesday, July 15th. Citigroup decreased their price objective on McDonald’s from $375.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Cfra upgraded McDonald’s to a “buy” rating in a research report on Friday, May 8th. Erste Group Bank cut McDonald’s from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $370.00 target price on shares of McDonald’s in a research note on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $336.32.

Check Out Our Latest Analysis on McDonald’s

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 5,252 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the sale, the insider directly owned 7,734 shares in the company, valued at $2,198,930.88. This represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 8,681 shares of company stock worth $2,456,440. 0.26% of the stock is owned by corporate insiders.

McDonald’s Trading Down 0.1%

McDonald’s stock opened at $267.50 on Tuesday. The stock has a market cap of $190.06 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.78 and a beta of 0.41. The company’s 50-day moving average price is $276.94 and its two-hundred day moving average price is $299.99. McDonald’s Corporation has a 52 week low of $264.09 and a 52 week high of $341.75.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.47 billion. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. McDonald’s’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 EPS. Research analysts expect that McDonald’s Corporation will post 12.86 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $7.44 annualized dividend and a yield of 2.8%. McDonald’s’s payout ratio is presently 61.34%.

About McDonald’s

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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