McDonald’s Co. (NYSE:MCD) Shares Sold by Busey Bank

Busey Bank reduced its stake in McDonald’s Co. (NYSE:MCD) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,431 shares of the fast-food giant’s stock after selling 345 shares during the quarter. Busey Bank’s holdings in McDonald’s were worth $13,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the first quarter worth $28,000. Kings Path Partners LLC acquired a new position in McDonald’s in the 2nd quarter valued at about $38,000. Keener Financial Planning LLC increased its stake in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the second quarter worth about $59,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s in the first quarter valued at approximately $69,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Truist Financial boosted their target price on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. TD Cowen restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Wednesday. Finally, Citigroup upped their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $318.22.

McDonald’s Price Performance

Shares of MCD opened at $301.61 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm has a 50 day simple moving average of $296.97 and a 200-day simple moving average of $274.51. The stock has a market cap of $217.36 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.17 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated 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 directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,998 shares of company stock valued at $9,935,493 over the last quarter. Company insiders own 0.23% of the company’s stock.

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.