Webster Bank N. A. Sells 1,275 Shares of McDonald’s Co. (NYSE:MCD)

Webster Bank N. A. trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 7.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,453 shares of the fast-food giant’s stock after selling 1,275 shares during the period. Webster Bank N. A.’s holdings in McDonald’s were worth $4,639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of McDonald’s by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares in the last quarter. Norges Bank acquired a new stake in shares of McDonald’s during the 4th quarter worth about $2,684,899,000. Price T Rowe Associates Inc. MD increased its position in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its position in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in McDonald’s by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,425,674 shares of the fast-food giant’s stock valued at $1,589,073,000 after acquiring an additional 35,639 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares in the company, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,095 shares of company stock valued at $1,100,625 over the last 90 days. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCD. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Bank of America lowered their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Truist Financial lowered their price objective on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Evercore ISI restated an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. Finally, KeyCorp lowered their price objective on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Price Performance

MCD traded down $3.33 during trading on Friday, reaching $254.84. The company had a trading volume of 8,958,712 shares, compared to its average volume of 3,556,529. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39. The business’s fifty day moving average price is $263.31 and its 200 day moving average price is $279.28. The company has a market cap of $183.66 billion, a P/E ratio of 21.63, a PEG ratio of 2.91 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the firm posted $2.63 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

McDonald’s Company Profile

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.