McDonald’s Co. (NYSE:MCD) Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp reduced its holdings in McDonald’s Co. (NYSE:MCD) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,213 shares of the fast-food giant’s stock after selling 53 shares during the quarter. Mechanics Financial Corp’s holdings in McDonald’s were worth $1,511,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. United Bank raised its position in shares of McDonald’s by 3.5% during the 3rd quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock worth $1,963,000 after buying an additional 218 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of McDonald’s by 7.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,053 shares of the fast-food giant’s stock valued at $321,000 after acquiring an additional 71 shares during the period. Cynosure Group LLC bought a new stake in McDonald’s during the third quarter worth approximately $216,000. Public Sector Pension Investment Board lifted its position in McDonald’s by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 30,844 shares of the fast-food giant’s stock worth $9,392,000 after purchasing an additional 3,200 shares during the period. Finally, Vinva Investment Management Ltd boosted its stake in McDonald’s by 28.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 13,773 shares of the fast-food giant’s stock valued at $4,183,000 after purchasing an additional 3,074 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 3,200 shares of McDonald’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total value of $962,432.00. Following the transaction, the chief marketing officer now owns 9,858 shares in the company, valued at $2,964,892.08. This trade represents a 24.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,405 shares of company stock valued at $9,886,656. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 1.8 %

Shares of NYSE:MCD opened at $306.95 on Friday. The firm has a fifty day moving average of $301.52 and a two-hundred day moving average of $298.10. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The firm has a market capitalization of $219.31 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Equities research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Ratings Changes

MCD has been the topic of a number of research reports. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley dropped their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Barclays boosted their target price on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Piper Sandler decreased their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.