Cadence Bank Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

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

A number of other institutional investors have also recently modified their holdings of the business. Kennebec Savings Bank purchased a new position in shares of McDonald’s in the 3rd quarter valued at about $1,394,000. Hantz Financial Services Inc. acquired a new stake in shares of McDonald’s in the second quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock worth $10,702,754 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Up 0.0 %

NYSE MCD opened at $296.31 on Wednesday. The stock has a market cap of $212.34 billion, a PE ratio of 26.01, a P/E/G ratio of 3.94 and a beta of 0.74. The business has a 50 day moving average price of $299.90 and a two-hundred day moving average price of $278.55. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on MCD shares. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Tigress Financial raised their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. TD Cowen reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, Barclays upped their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

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.