First Interstate Bank Sells 449 Shares of McDonald’s Co. (NYSE:MCD)

First Interstate Bank trimmed its position in McDonald’s Co. (NYSE:MCD) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,195 shares of the fast-food giant’s stock after selling 449 shares during the period. First Interstate Bank’s holdings in McDonald’s were worth $5,236,000 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. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter worth about $38,000. Keener Financial Planning LLC increased its position in shares of McDonald’s by 32.3% in 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 last quarter. Opal Wealth Advisors LLC purchased a new stake in McDonald’s in the second quarter valued at approximately $59,000. Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the second quarter valued at approximately $65,000. Finally, Macroview Investment Management LLC grew its stake in McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after buying an additional 208 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock worth $10,256,818 in the last 90 days. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MCD shares. UBS Group lifted their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. TD Cowen restated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday. Finally, Evercore ISI lifted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Price Performance

MCD stock traded up $3.10 during midday trading on Friday, hitting $295.21. The stock had a trading volume of 4,131,804 shares, compared to its average volume of 3,530,975. The business has a 50-day moving average of $298.36 and a two-hundred day moving average of $275.78. The firm has a market cap of $211.77 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the business earned $3.19 EPS. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts predict that McDonald’s Co. will post 11.78 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. 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 dividend yield of 2.40%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 58.65%.

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.