Somerset Trust Co Decreases Stock Position in McDonald’s Co. (NYSE:MCD)

Somerset Trust Co lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,185 shares of the fast-food giant’s stock after selling 90 shares during the period. McDonald’s makes up about 2.0% of Somerset Trust Co’s investment portfolio, making the stock its 14th largest position. Somerset Trust Co’s holdings in McDonald’s were worth $5,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in McDonald’s during the 2nd quarter worth approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares during the last quarter. Brevan Howard Capital Management LP raised its position in shares of McDonald’s by 411.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares during the period. BNP Paribas bought a new stake in shares of McDonald’s in the 1st quarter worth approximately $7,898,000. Finally, First Long Island Investors LLC boosted its position in McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after purchasing an additional 7,707 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 0.6 %

Shares of NYSE:MCD opened at $303.84 on Thursday. The firm has a market cap of $218.97 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96. The company’s fifty day simple moving average is $288.93 and its 200 day simple moving average is $272.20.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the business earned $3.17 earnings per share. McDonald’s’s revenue was down .1% compared to the same quarter last year. Research analysts expect that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on MCD shares. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Guggenheim lifted their price target on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Tigress Financial increased their price objective 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, Evercore ISI lifted their target price on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.50.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,751 shares of company stock worth $9,493,973. Insiders own 0.23% of the company’s stock.

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.