Peoples Bank OH Cuts Stake in McDonald’s Co. (NYSE:MCD)

Peoples Bank OH reduced its stake in McDonald’s Co. (NYSE:MCD) by 7.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,781 shares of the fast-food giant’s stock after selling 239 shares during the quarter. Peoples Bank OH’s holdings in McDonald’s were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Ramirez Asset Management Inc. purchased a new stake in McDonald’s during the third quarter valued at about $53,000. Harbour Investments Inc. lifted its holdings in McDonald’s by 2.6% during the third quarter. Harbour Investments Inc. now owns 14,735 shares of the fast-food giant’s stock valued at $3,882,000 after purchasing an additional 375 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its holdings in McDonald’s by 250.1% during the third quarter. Financial Gravity Asset Management Inc. now owns 1,362 shares of the fast-food giant’s stock valued at $359,000 after purchasing an additional 973 shares during the last quarter. Revisor Wealth Management LLC purchased a new stake in McDonald’s during the third quarter valued at about $376,000. Finally, Creative Planning lifted its holdings in McDonald’s by 0.8% during the third quarter. Creative Planning now owns 321,659 shares of the fast-food giant’s stock valued at $84,738,000 after purchasing an additional 2,605 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,593 shares of company stock valued at $1,472,518. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MCD shares. Robert W. Baird dropped their price objective 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. Wedbush decreased their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Citigroup decreased their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Morgan Stanley decreased their price target on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Bank of America decreased their price target on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $313.18.

McDonald’s Price Performance

NYSE MCD traded down $2.02 on Tuesday, reaching $245.83. 4,927,342 shares of the company’s stock traded hands, compared to its average volume of 3,431,427. The stock has a market cap of $177.16 billion, a PE ratio of 20.87, a P/E/G ratio of 2.83 and a beta of 0.71. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The stock has a 50-day simple moving average of $259.67 and a 200 day simple moving average of $277.05.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The company 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%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.63 EPS. As a group, analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) 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.