Central Bank & Trust Co. Sells 114 Shares of McDonald’s Co. (NYSE:MCD)

Central Bank & Trust Co. reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,136 shares of the fast-food giant’s stock after selling 114 shares during the period. Central Bank & Trust Co.’s holdings in McDonald’s were worth $3,391,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the second quarter valued at $38,000. Keener Financial Planning LLC boosted its holdings in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter worth about $59,000. Bbjs Financial Advisors LLC acquired a new position in shares of McDonald’s during the second quarter valued at about $65,000. Finally, Macroview Investment Management LLC raised its position in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $292.85 on Tuesday. The company has a market cap of $210.07 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74. The company has a fifty day moving average price of $298.45 and a 200 day moving average price of $276.05. McDonald’s Co. has a 12 month low of $243.53 and a 12 month 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 company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 EPS. As a group, analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current 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 paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 in the last three months. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently 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.