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

Cadence Bank lessened its position in McDonald’s Co. (NYSE:MCD) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,192 shares of the fast-food giant’s stock after selling 103 shares during the quarter. Cadence Bank’s holdings in McDonald’s were worth $6,453,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hara Capital LLC acquired a new stake in McDonald’s during the 3rd quarter worth $44,000. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter worth about $38,000. Peterson Financial Group Inc. purchased a new stake in McDonald’s during the 3rd quarter valued at about $58,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth approximately $65,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Trading Up 0.0 %

Shares of NYSE:MCD opened at $296.31 on Wednesday. The firm has a 50 day simple moving average of $299.90 and a 200-day simple moving average of $278.55. The company has a market capitalization of $212.34 billion, a PE ratio of 26.01, a P/E/G ratio of 3.94 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating 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 175.42%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction 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 $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,597 shares of company stock valued at $10,702,754 over the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen reissued a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Barclays lifted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. UBS Group lifted their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Tigress Financial lifted their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.46.

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.