849 Shares in McDonald’s Co. (NYSE:MCD) Bought by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. purchased a new position in shares of McDonald’s Co. (NYSE:MCD) during the 1st quarter, Holdings Channel reports. The fund purchased 849 shares of the fast-food giant’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Roffman Miller Associates Inc. PA lifted its position in McDonald’s by 1.7% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after buying an additional 2,546 shares in the last quarter. Aigen Investment Management LP bought a new stake in McDonald’s during the 4th quarter worth about $4,286,000. Strait & Sound Wealth Management LLC bought a new stake in McDonald’s during the 4th quarter worth about $211,000. Main Street Research LLC lifted its position in McDonald’s by 1.0% during the 4th quarter. Main Street Research LLC now owns 20,975 shares of the fast-food giant’s stock worth $6,219,000 after buying an additional 199 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of McDonald’s by 9.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,091,052 shares of the fast-food giant’s stock valued at $321,449,000 after purchasing an additional 89,671 shares during the period. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. BMO Capital Markets dropped their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday. Bank of America dropped their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday. Morgan Stanley dropped their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the company from $285.00 to $280.00 in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $302.64.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the 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 owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the firm’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 of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 5,594 shares of company stock valued at $1,454,507 in the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD traded up $3.35 during trading hours on Thursday, hitting $268.75. 4,879,650 shares of the stock were exchanged, compared to its average volume of 3,544,535. The company has a market cap of $193.68 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 3.13 and a beta of 0.71. The company’s fifty day simple moving average is $255.54 and its two-hundred day simple moving average is $273.02. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) 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 analyst estimates 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 was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.17 EPS. As a group, sell-side analysts expect that McDonald’s Co. will post 11.87 EPS for the current fiscal year.

McDonald’s Announces Dividend

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