Washington Trust Bank Sells 246 Shares of McDonald’s Co. (NYSE:MCD)

Washington Trust Bank reduced its stake in McDonald’s Co. (NYSE:MCD) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,021 shares of the fast-food giant’s stock after selling 246 shares during the quarter. Washington Trust Bank’s holdings in McDonald’s were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s during the 3rd quarter worth $25,000. Atala Financial Inc bought a new stake in McDonald’s during the fourth quarter worth about $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s during the fourth quarter worth about $27,000. Collier Financial bought a new position in shares of McDonald’s during the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC increased its position in shares of McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on MCD shares. Morgan Stanley cut their target price on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler reduced their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. KeyCorp boosted their price target on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.39.

Insider Buying and Selling

In other McDonald’s news, EVP Tiffanie L. Boyd sold 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total value of $309,270.00. Following the sale, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,504 shares of company stock worth $10,206,575 in the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 0.6 %

NYSE:MCD opened at $305.07 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a 50-day moving average price of $298.75 and a 200-day moving average price of $297.38. The stock has a market cap of $217.96 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Equities analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is currently 62.16%.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.