Baker Boyer National Bank Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

Baker Boyer National Bank reduced its stake in McDonald’s Co. (NYSE:MCD) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,656 shares of the fast-food giant’s stock after selling 381 shares during the quarter. McDonald’s comprises approximately 0.4% of Baker Boyer National Bank’s portfolio, making the stock its 29th biggest holding. Baker Boyer National Bank’s holdings in McDonald’s were worth $1,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Signature Resources Capital Management LLC purchased a new stake in McDonald’s in the fourth quarter valued at approximately $31,000. Spartan Planning & Wealth Management purchased a new position in shares of McDonald’s during the third quarter worth approximately $33,000. Clear Investment Research LLC purchased a new position in shares of McDonald’s in the fourth quarter worth $38,000. Keener Financial Planning LLC purchased a new position in shares of McDonald’s in the fourth quarter worth $39,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McDonald’s in the fourth quarter worth $39,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the business’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 transaction of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,095 shares of company stock worth $1,100,625. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Performance

Shares of NYSE MCD traded down $0.94 during midday trading on Monday, hitting $258.45. 1,386,240 shares of the company’s stock traded hands, compared to its average volume of 3,368,505. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The stock has a market capitalization of $186.26 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.71. The firm has a fifty day moving average of $264.43 and a 200 day moving average of $280.20.

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

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.58%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analysts Set New Price Targets

Several research analysts recently commented on MCD shares. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. Guggenheim dropped their target price on shares of McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Truist Financial dropped their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Robert W. Baird dropped their target price on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.14.

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.