Chevy Chase Trust Holdings LLC Has $121.63 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Chevy Chase Trust Holdings LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 399,434 shares of the fast-food giant’s stock after selling 8,801 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in McDonald’s were worth $121,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. boosted its position in McDonald’s by 2.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 5,678 shares of the fast-food giant’s stock valued at $1,729,000 after buying an additional 115 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of McDonald’s by 1,975.0% during the third quarter. Benjamin Edwards Inc. now owns 204,636 shares of the fast-food giant’s stock worth $62,339,000 after acquiring an additional 194,774 shares during the last quarter. Atom Investors LP acquired a new position in shares of McDonald’s during the third quarter valued at $938,000. Aureus Asset Management LLC boosted its holdings in McDonald’s by 0.9% in the third quarter. Aureus Asset Management LLC now owns 13,943 shares of the fast-food giant’s stock valued at $4,246,000 after acquiring an additional 124 shares during the last quarter. Finally, Paradigm Capital Management LLC NV acquired a new stake in McDonald’s in the third quarter worth about $936,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the transaction, the insider now owns 9,286 shares of the company’s stock, valued at $2,716,155. The trade was a 10.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,597 shares of company stock worth $10,702,754. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial reduced their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America upped 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. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.64.

McDonald’s Stock Performance

NYSE MCD opened at $296.01 on Monday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock’s 50 day moving average price is $299.96 and its two-hundred day moving average price is $279.04. The stock has a market capitalization of $212.13 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 3.94 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 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 business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced 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 is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

About McDonald’s

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.