Montecito Bank & Trust Trims Stock Position in McDonald’s Co. (NYSE:MCD)

Montecito Bank & Trust decreased its position in McDonald’s Co. (NYSE:MCD) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,634 shares of the fast-food giant’s stock after selling 264 shares during the period. Montecito Bank & Trust’s holdings in McDonald’s were worth $1,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc raised its position in McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the period. Capital Research Global Investors raised its holdings in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares during the period. Ameriprise Financial Inc. lifted its position in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the last quarter. Capital World Investors boosted its stake in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCD. Evercore ISI lifted their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Truist Financial reduced their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets increased their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given 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.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock valued at $10,698,289 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

NYSE:MCD opened at $294.00 on Thursday. The firm has a market cap of $210.90 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The firm’s fifty day moving average price is $298.74 and its 200 day moving average price is $276.35. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last issued 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 negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the business posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.41%. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

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.