Zions Bancorporation N.A. Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Zions Bancorporation N.A. cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 38.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,675 shares of the fast-food giant’s stock after selling 1,026 shares during the quarter. Zions Bancorporation N.A.’s holdings in McDonald’s were worth $427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in McDonald’s in the fourth quarter valued at about $4,286,000. Hantz Financial Services Inc. acquired a new stake in shares of McDonald’s during the 2nd quarter valued at approximately $6,612,000. California State Teachers Retirement System boosted its holdings in McDonald’s by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after purchasing an additional 15,863 shares during the period. Keystone Financial Group increased its stake in McDonald’s by 5.9% during the fourth quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock valued at $2,667,000 after purchasing an additional 499 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its holdings in shares of McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of MCD opened at $296.53 on Friday. The firm’s 50 day moving average is $272.89 and its 200-day moving average is $270.64. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The stock has a market capitalization of $213.70 billion, a P/E ratio of 25.17, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $3.17 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is 56.71%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. KeyCorp lowered their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and cut their target price for the company from $285.00 to $280.00 in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.37.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock worth $1,689,073 in the last quarter. 0.23% of the stock is owned by company insiders.

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.