Montecito Bank & Trust Has $1.61 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Montecito Bank & Trust lowered its position in McDonald’s Co. (NYSE:MCD) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,543 shares of the fast-food giant’s stock after selling 91 shares during the quarter. Montecito Bank & Trust’s holdings in McDonald’s were worth $1,607,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC increased its stake in shares of McDonald’s by 7.4% during the 4th quarter. Smallwood Wealth Investment Management LLC now owns 722 shares of the fast-food giant’s stock worth $209,000 after purchasing an additional 50 shares during the last quarter. Lifestyle Asset Management Inc. increased its position in McDonald’s by 7.3% during the fourth quarter. Lifestyle Asset Management Inc. now owns 790 shares of the fast-food giant’s stock worth $229,000 after buying an additional 54 shares during the last quarter. Apeiron RIA LLC lifted its position in shares of McDonald’s by 29.3% in the fourth quarter. Apeiron RIA LLC now owns 1,334 shares of the fast-food giant’s stock worth $387,000 after buying an additional 302 shares during the last quarter. Secure Asset Management LLC boosted its stake in shares of McDonald’s by 3.1% during the 4th quarter. Secure Asset Management LLC now owns 7,520 shares of the fast-food giant’s stock worth $2,180,000 after acquiring an additional 223 shares in the last quarter. Finally, Verde Capital Management bought a new position in shares of McDonald’s in the 4th quarter valued at approximately $477,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,605 shares of company stock worth $2,508,102 over the last three months. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.1 %

MCD opened at $284.49 on Friday. The stock’s fifty day simple moving average is $291.49 and its 200 day simple moving average is $287.90. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock has a market cap of $203.87 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the company posted $3.19 EPS. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that McDonald’s Co. will post 11.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCD. Morgan Stanley dropped their price target on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research report on Tuesday. Evercore ISI boosted their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $321.22.

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.