First Interstate Bank Has $4.50 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

First Interstate Bank lowered its stake in McDonald’s Co. (NYSE:MCD) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 17,644 shares of the fast-food giant’s stock after selling 420 shares during the period. First Interstate Bank’s holdings in McDonald’s were worth $4,496,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCD. Norges Bank bought a new stake in shares of McDonald’s in the fourth quarter valued at about $2,684,899,000. Gallagher Fiduciary Advisors LLC boosted its holdings in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. Capital Research Global Investors grew its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Swedbank AB bought a new position in shares of McDonald’s during the first quarter worth approximately $348,206,000. Finally, Capital World Investors raised its position in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after buying an additional 1,012,534 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCD shares. Guggenheim increased their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Evercore ISI increased their target price on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. KeyCorp dropped their price target 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Citigroup dropped their target price on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $304.41.

McDonald’s Price Performance

NYSE:MCD opened at $291.22 on Tuesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The company has a market cap of $209.88 billion, a PE ratio of 24.72, a P/E/G ratio of 3.87 and a beta of 0.72. The firm’s 50 day simple moving average is $269.47 and its 200 day simple moving average is $270.57.

McDonald’s (NYSE:MCD) last issued 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). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 EPS. Equities research analysts expect that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the 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 in the company, valued at $3,842,800. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,291 shares of company stock valued at $1,689,073. Company insiders own 0.23% of the company’s stock.

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.