Comerica Bank Sells 2,894 Shares of McDonald’s Co. (NYSE:MCD)

Comerica Bank lowered its stake in shares of McDonald’s Co. (NYSE:MCDFree Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 282,024 shares of the fast-food giant’s stock after selling 2,894 shares during the quarter. Comerica Bank’s holdings in McDonald’s were worth $83,623,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Concentric Wealth Management LLC lifted its position in McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. Midland Wealth Advisors LLC acquired a new position in McDonald’s during the 4th quarter valued at about $5,798,000. Pathstone Holdings LLC acquired a new position in McDonald’s during the 4th quarter valued at about $34,987,000. Pinnacle Holdings LLC lifted its position in McDonald’s by 0.5% during the 4th quarter. Pinnacle Holdings LLC now owns 11,285 shares of the fast-food giant’s stock valued at $3,346,000 after purchasing an additional 53 shares during the period. Finally, Kestra Advisory Services LLC raised its position in shares of McDonald’s by 0.7% in the 4th quarter. Kestra Advisory Services LLC now owns 116,198 shares of the fast-food giant’s stock valued at $34,454,000 after acquiring an additional 800 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $0.20 during midday trading on Wednesday, hitting $254.48. 3,113,236 shares of the stock were exchanged, compared to its average volume of 3,353,168. The stock has a market capitalization of $183.40 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.86 and a beta of 0.71. The business’s 50-day moving average price is $266.49 and its 200 day moving average price is $281.71. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter last year, the firm posted $2.63 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s Co. will post 12.17 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.62%. The ex-dividend date is Monday, June 3rd. McDonald’s’s payout ratio is presently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. 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 4,096 shares of company stock worth $1,127,678 over the last ninety days. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MCD shares. BMO Capital Markets cut their price target on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Wedbush dropped their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Morgan Stanley dropped their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Citigroup dropped their target price on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, Bank of America decreased their price target on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Nine 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, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $316.15.

Read Our Latest Research Report on MCD

McDonald’s Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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