Smithfield Trust Co Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Smithfield Trust Co lowered its holdings in McDonald’s Co. (NYSE:MCD) by 0.2% during the third quarter, HoldingsChannel reports. The fund owned 21,678 shares of the fast-food giant’s stock after selling 39 shares during the period. Smithfield Trust Co’s holdings in McDonald’s were worth $6,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hara Capital LLC acquired a new stake in McDonald’s during the third quarter worth approximately $44,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the 2nd quarter worth $38,000. Peterson Financial Group Inc. purchased a new stake in McDonald’s in the third quarter valued at $58,000. Opal Wealth Advisors LLC acquired a new position in McDonald’s in the second quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s during the second quarter worth about $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,596 shares of company stock valued at $10,698,289. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America increased their price objective on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. KeyCorp lifted their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Truist Financial decreased their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets lifted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Trading Up 0.1 %

Shares of McDonald’s stock opened at $290.89 on Thursday. The company has a 50-day moving average of $300.06 and a two-hundred day moving average of $277.84. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The stock has a market cap of $208.46 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.87 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $3.19 EPS. On average, sell-side analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. McDonald’s’s payout ratio is currently 58.65%.

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.