McDonald’s Co. (NYSE:MCD) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,234 shares of the fast-food giant’s stock after purchasing an additional 487 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in McDonald’s were worth $21,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCD. Concentric Wealth Management LLC grew its stake in McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares in the last quarter. 9258 Wealth Management LLC grew its stake in McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of McDonald’s by 1.3% during the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after acquiring an additional 38 shares in the last quarter. Finally, MTM Investment Management LLC boosted its stake in shares of McDonald’s by 3.3% during the 1st quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock worth $331,000 after acquiring an additional 38 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Jefferies Financial Group cut their price objective on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Guggenheim boosted their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. 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 analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $303.89.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction 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 directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 6,291 shares of company stock worth $1,689,073 in the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD traded up $1.54 during trading on Friday, hitting $289.51. 3,863,559 shares of the stock traded hands, compared to its average volume of 3,505,613. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The company has a market cap of $208.64 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72. The business has a 50 day moving average price of $268.64 and a 200 day moving average price of $270.91.

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

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s payout ratio is currently 56.71%.

McDonald’s Company 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.