Field & Main Bank Lowers Holdings in McDonald’s Co. (NYSE:MCD)

Field & Main Bank decreased its holdings in McDonald’s Co. (NYSE:MCD) by 6.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,303 shares of the fast-food giant’s stock after selling 477 shares during the quarter. Field & Main Bank’s holdings in McDonald’s were worth $2,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. Kings Path Partners LLC acquired a new position in McDonald’s during the 2nd quarter worth approximately $38,000. Hara Capital LLC acquired a new position in McDonald’s during the 3rd quarter worth approximately $44,000. Opal Wealth Advisors LLC acquired a new position in McDonald’s during the 2nd quarter worth approximately $59,000. Bbjs Financial Advisors LLC acquired a new position in McDonald’s during the 2nd quarter worth approximately $65,000. Finally, Macroview Investment Management LLC grew its holdings in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $298.97 on Friday. The stock has a market cap of $214.46 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.74. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The stock’s 50-day moving average is $299.08 and its two-hundred day moving average is $276.64.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is 58.65%.

Analyst Upgrades and Downgrades

Several research analysts have commented on MCD shares. JPMorgan Chase & Co. boosted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. BMO Capital Markets upped their target price on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley upped their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,596 shares of company stock worth $10,698,289. Insiders own 0.23% of the company’s stock.

McDonald’s 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.