Fiduciary Trust Co Has $31.02 Million Stake in McDonald’s Co. (NYSE:MCD)

Fiduciary Trust Co reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,875 shares of the fast-food giant’s stock after selling 2,518 shares during the quarter. Fiduciary Trust Co’s holdings in McDonald’s were worth $31,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. RPg Family Wealth Advisory LLC bought a new position in McDonald’s during the 3rd quarter valued at about $31,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter valued at approximately $38,000. Hara Capital LLC acquired a new position in shares of McDonald’s in the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s during the 3rd quarter worth approximately $58,000. Finally, Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter valued at $59,000. 70.29% of the stock is owned by institutional investors.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred 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 sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,597 shares of company stock worth $10,702,754. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $295.02 on Thursday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm has a market cap of $211.42 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The firm’s fifty day moving average is $299.96 and its two-hundred day moving average is $278.67.

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 business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. Equities analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 62.16%.

Analyst Ratings Changes

A number of equities analysts have commented on MCD shares. The Goldman Sachs Group boosted their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Bank of America raised their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp raised their price target 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. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

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.