BTC Capital Management Inc. Lowers Holdings in McDonald’s Co. (NYSE:MCD)

BTC Capital Management Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 24.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,220 shares of the fast-food giant’s stock after selling 705 shares during the quarter. BTC Capital Management Inc.’s holdings in McDonald’s were worth $677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. LifePro Asset Management grew its holdings in shares of McDonald’s by 15.5% during the 2nd quarter. LifePro Asset Management now owns 3,221 shares of the fast-food giant’s stock worth $961,000 after purchasing an additional 432 shares during the period. Worth Asset Management LLC lifted its position in McDonald’s by 277.5% during the 2nd quarter. Worth Asset Management LLC now owns 151 shares of the fast-food giant’s stock worth $45,000 after acquiring an additional 111 shares in the last quarter. Buckingham Capital Management Inc. lifted its position in McDonald’s by 2.0% during the 2nd quarter. Buckingham Capital Management Inc. now owns 7,589 shares of the fast-food giant’s stock worth $2,265,000 after acquiring an additional 148 shares in the last quarter. EdgeRock Capital LLC lifted its position in McDonald’s by 18.7% during the 2nd quarter. EdgeRock Capital LLC now owns 1,039 shares of the fast-food giant’s stock worth $310,000 after acquiring an additional 164 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in McDonald’s by 0.5% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 208,976 shares of the fast-food giant’s stock worth $62,361,000 after acquiring an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of several recent research reports. Robert W. Baird boosted their price target on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Wells Fargo & Company raised McDonald’s from an “equal weight” rating to an “overweight” rating and set a $310.00 target price on the stock in a research report on Thursday, September 7th. Piper Sandler started coverage on McDonald’s in a research report on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 target price on the stock. Bank of America upped their target price on McDonald’s from $319.00 to $343.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $325.00 target price on shares of McDonald’s in a research report on Thursday, July 27th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $323.17.

McDonald’s Stock Down 0.2 %

Shares of NYSE MCD opened at $277.71 on Tuesday. The business has a fifty day simple moving average of $287.27 and a 200-day simple moving average of $286.22. The company has a market cap of $202.38 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.71 and a beta of 0.64. McDonald’s Co. has a 12 month low of $230.58 and a 12 month high of $299.35.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.40. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.30 billion. During the same period in the prior year, the business earned $2.55 EPS. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s Co. will post 11.49 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, September 1st were given a $1.52 dividend. This represents a $6.08 annualized dividend and a yield of 2.19%. The ex-dividend date was Thursday, August 31st. McDonald’s’s payout ratio is currently 55.93%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $282.02, for a total value of $1,265,423.74. Following the transaction, the insider now directly owns 10,786 shares of the company’s stock, valued at approximately $3,041,867.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $285.00, for a total value of $285,000.00. Following the sale, the chief marketing officer now owns 929 shares of the company’s stock, valued at approximately $264,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $282.02, for a total value of $1,265,423.74. Following the completion of the sale, the insider now directly owns 10,786 shares in the company, valued at approximately $3,041,867.72. The disclosure for this sale can be found here. Insiders have sold a total of 18,149 shares of company stock valued at $5,257,201 in the last three months. Insiders own 0.18% of the company’s stock.

McDonald’s Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.