First Hawaiian Bank Sells 159 Shares of McDonald’s Co. (NYSE:MCD)

First Hawaiian Bank cut its position in McDonald’s Co. (NYSE:MCD) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,390 shares of the fast-food giant’s stock after selling 159 shares during the quarter. First Hawaiian Bank’s holdings in McDonald’s were worth $2,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Concentric Wealth Management LLC grew its stake in shares of McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after buying an additional 35 shares in the last quarter. Mechanics Financial Corp boosted its position in McDonald’s by 0.7% during the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock worth $1,581,000 after purchasing an additional 36 shares during the period. FinTrust Capital Advisors LLC boosted its position in McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares during the period. 9258 Wealth Management LLC boosted its position in McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its position in McDonald’s by 30.9% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 161 shares of the fast-food giant’s stock worth $48,000 after purchasing an additional 38 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. Insiders have sold 5,594 shares of company stock worth $1,454,507 over the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded down $8.24 during midday trading on Monday, hitting $268.45. 6,739,621 shares of the stock were exchanged, compared to its average volume of 3,606,691. The stock has a market capitalization of $193.47 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 3.58 and a beta of 0.71. The business’s 50-day moving average price is $255.91 and its 200 day moving average price is $272.65. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. As a group, sell-side analysts expect that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Analyst Ratings Changes

MCD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Truist Financial reduced their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets reduced their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Finally, Guggenheim lifted their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $303.00.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.