CNB Bank Increases Position in McDonald’s Co. (NYSE:MCD)

CNB Bank lifted its position in McDonald’s Co. (NYSE:MCDGet Rating) by 1.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,454 shares of the fast-food giant’s stock after purchasing an additional 118 shares during the period. McDonald’s accounts for about 1.2% of CNB Bank’s investment portfolio, making the stock its 16th biggest position. CNB Bank’s holdings in McDonald’s were worth $2,091,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCD. Balyasny Asset Management LLC bought a new position in McDonald’s in the third quarter worth approximately $95,261,000. Phocas Financial Corp. bought a new position in McDonald’s in the third quarter worth approximately $257,000. Captrust Financial Advisors grew its stake in McDonald’s by 16.2% in the third quarter. Captrust Financial Advisors now owns 86,531 shares of the fast-food giant’s stock worth $20,864,000 after purchasing an additional 12,084 shares in the last quarter. Summit Trail Advisors LLC bought a new position in McDonald’s in the third quarter worth approximately $275,000. Finally, Colony Group LLC grew its stake in McDonald’s by 34.9% in the third quarter. Colony Group LLC now owns 17,814 shares of the fast-food giant’s stock worth $4,295,000 after purchasing an additional 4,607 shares in the last quarter. 68.44% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on MCD. UBS Group dropped their target price on McDonald’s from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Wednesday, March 30th. Barclays dropped their target price on McDonald’s from $300.00 to $289.00 and set an “overweight” rating on the stock in a research report on Thursday, June 9th. Oppenheimer dropped their target price on McDonald’s from $290.00 to $280.00 in a research report on Monday, March 14th. Piper Sandler dropped their target price on McDonald’s from $282.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Finally, Guggenheim dropped their target price on McDonald’s from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, May 2nd. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $281.15.

In other McDonald’s news, insider Joseph M. Erlinger sold 5,892 shares of McDonald’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $249.23, for a total transaction of $1,468,463.16. Following the completion of the transaction, the insider now owns 8,187 shares in the company, valued at approximately $2,040,446.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Shares of MCD stock opened at $243.06 on Thursday. The firm has a market capitalization of $179.76 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 3.05 and a beta of 0.57. The business has a fifty day moving average of $245.54 and a 200 day moving average of $250.03. McDonald’s Co. has a 1 year low of $217.68 and a 1 year high of $271.15.

McDonald’s (NYSE:MCDGet Rating) last released its quarterly earnings data on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The business had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.57 billion. McDonald’s had a negative return on equity of 131.20% and a net margin of 29.93%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. Equities analysts predict that McDonald’s Co. will post 9.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Monday, June 6th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.27%. McDonald’s’s payout ratio is currently 58.29%.

McDonald’s Profile (Get Rating)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

Recommended Stories

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCDGet Rating).

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

Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.