McDonald’s Corporation $MCD Shares Sold by First Western Trust Bank

First Western Trust Bank lowered its stake in McDonald’s Corporation (NYSE:MCD) by 3.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,502 shares of the fast-food giant’s stock after selling 833 shares during the quarter. McDonald’s makes up about 0.3% of First Western Trust Bank’s holdings, making the stock its 21st biggest position. First Western Trust Bank’s holdings in McDonald’s were worth $7,743,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MCD. ABN Amro Investment Solutions purchased a new stake in shares of McDonald’s in the second quarter valued at $2,853,000. Cherokee Insurance Co acquired a new position in McDonald’s in the 2nd quarter valued at about $584,000. Impax Asset Management Group plc lifted its holdings in McDonald’s by 174.9% in the 2nd quarter. Impax Asset Management Group plc now owns 39,771 shares of the fast-food giant’s stock valued at $11,620,000 after purchasing an additional 25,306 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in McDonald’s by 3.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 108,560 shares of the fast-food giant’s stock valued at $31,718,000 after purchasing an additional 3,692 shares in the last quarter. Finally, Bailard Inc. boosted its stake in shares of McDonald’s by 1.3% during the 2nd quarter. Bailard Inc. now owns 37,549 shares of the fast-food giant’s stock worth $10,971,000 after purchasing an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $325.00 price objective on shares of McDonald’s in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $335.00 target price on McDonald’s in a research note on Friday, October 17th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $323.91.

McDonald’s Trading Down 0.1%

Shares of McDonald’s stock opened at $306.63 on Thursday. The business’s fifty day moving average price is $303.72 and its 200 day moving average price is $304.76. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock has a market capitalization of $218.37 billion, a P/E ratio of 26.28, a PEG ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.23 earnings per share. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is presently 63.48%.

Insider Transactions at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. This trade represents a 74.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,134 shares of company stock valued at $4,570,716 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Company Profile

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.