McDonald’s Corporation $MCD Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in McDonald’s Corporation (NYSE:MCD) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,020 shares of the fast-food giant’s stock after selling 2,429 shares during the period. Amalgamated Bank’s holdings in McDonald’s were worth $43,158,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MCD. Decker Retirement Planning Inc. raised its stake in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s during the second quarter worth approximately $25,000. Evergreen Private Wealth LLC boosted its position in shares of McDonald’s by 162.5% in the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. GFG Capital LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at $29,000. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of McDonald’s during the second quarter worth $29,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.4%

Shares of MCD opened at $307.53 on Friday. McDonald’s Corporation has a 12 month low of $278.73 and a 12 month high of $326.32. The company has a market cap of $219.01 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 3.05 and a beta of 0.53. The business’s fifty day simple moving average is $308.76 and its two-hundred day simple moving average is $305.48.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 earnings per share. As a group, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend was Monday, December 1st. McDonald’s’s dividend payout ratio is presently 63.48%.

Analyst Ratings Changes

Several analysts have issued reports on MCD shares. Robert W. Baird upped their price target on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Barclays upped their price target on shares of McDonald’s from $358.00 to $372.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Sanford C. Bernstein restated an “overweight” rating and set a $372.00 price objective on shares of McDonald’s in a research report on Wednesday, January 7th. Guggenheim upped their price target on shares of McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, TD Cowen reissued a “hold” rating and issued a $320.00 price target on shares of McDonald’s in a research note on Thursday, January 8th. Thirteen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $328.88.

Insiders Place Their Bets

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the sale, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total transaction of $795,520.00. Following the completion of the transaction, the executive vice president owned 6,268 shares of the company’s stock, valued at approximately $2,005,760. The trade was a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 45,142 shares of company stock worth $13,841,169. Company insiders own 0.25% of the company’s stock.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.