Bank of Jackson Hole Trust Increases Stock Position in McDonald’s Corporation $MCD

Bank of Jackson Hole Trust grew its stake in shares of McDonald’s Corporation (NYSE:MCD) by 20.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,898 shares of the fast-food giant’s stock after buying an additional 662 shares during the period. Bank of Jackson Hole Trust’s holdings in McDonald’s were worth $1,139,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HFM Investment Advisors LLC purchased a new stake in shares of McDonald’s during the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s during the 1st quarter valued at $26,000. GFG Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $29,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the 1st quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the 1st quarter valued at $31,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCD shares. TD Cowen upped their price target on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Wells Fargo & Company decreased their price target on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Evercore ISI upped their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $323.43.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $306.79 on Wednesday. The business has a 50-day moving average of $306.44 and a 200-day moving average of $305.71. The company has a market capitalization of $218.93 billion, a PE ratio of 26.29, a P/E/G ratio of 3.31 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is 60.67%.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,463 shares of company stock worth $1,692,186 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.