McDonald’s Co. (NYSE:MCD) Holdings Lowered by First Financial Bank Trust Division

First Financial Bank Trust Division cut its stake in McDonald’s Co. (NYSE:MCD) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,535 shares of the fast-food giant’s stock after selling 678 shares during the period. First Financial Bank Trust Division’s holdings in McDonald’s were worth $4,122,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Concentric Wealth Management LLC raised its stake in shares of McDonald’s by 1.4% in the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after buying an additional 35 shares in the last quarter. Founders Financial Alliance LLC raised its position in McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after acquiring an additional 36 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after acquiring an additional 37 shares during the last quarter. Weatherly Asset Management L. P. boosted its position in shares of McDonald’s by 0.9% during the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares in the last quarter. Finally, Independence Bank of Kentucky grew its stake in shares of McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCD shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets reduced their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Robert W. Baird boosted their target price on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Guggenheim lifted their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $309.15.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $303.82 on Thursday. The firm has a market cap of $218.96 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $306.96. The stock has a 50-day simple moving average of $284.59 and a 200-day simple moving average of $271.49.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.17 earnings per share. As a group, equities research analysts predict that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared 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 represents a $7.08 annualized dividend and a dividend yield of 2.33%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is currently 60.10%.

Insider Activity at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,751 shares of company stock valued at $9,493,973. Corporate insiders own 0.23% of the company’s stock.

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.