Centennial Bank AR Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Centennial Bank AR reduced its stake in McDonald’s Co. (NYSE:MCD) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,438 shares of the fast-food giant’s stock after selling 35 shares during the period. Centennial Bank AR’s holdings in McDonald’s were worth $621,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in McDonald’s in the second quarter valued at $1,011,000. Birmingham Capital Management Co. Inc. AL raised its stake in McDonald’s by 0.9% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 35,506 shares of the fast-food giant’s stock valued at $9,048,000 after buying an additional 313 shares in the last quarter. KPP Advisory Services LLC increased its position in shares of McDonald’s by 6.2% during the second quarter. KPP Advisory Services LLC now owns 4,687 shares of the fast-food giant’s stock worth $1,194,000 after purchasing an additional 275 shares in the last quarter. Founders Financial Alliance LLC increased its position in shares of McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after purchasing an additional 36 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new position in shares of McDonald’s during the second quarter worth about $628,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCD has been the topic of a number of research reports. Barclays lowered their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $308.22.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock worth $9,493,973 over the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $302.98 on Wednesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $306.96. The stock’s 50-day moving average is $283.58 and its two-hundred day moving average is $271.26. The firm has a market cap of $218.35 billion, a P/E ratio of 25.72, a PEG ratio of 3.99 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.17 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 56.71%.

McDonald’s 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.