Heartland Bank & Trust Co Decreases Stock Holdings in McDonald’s Co. (NYSE:MCD)

Heartland Bank & Trust Co reduced its position in McDonald’s Co. (NYSE:MCD) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,985 shares of the fast-food giant’s stock after selling 152 shares during the quarter. Heartland Bank & Trust Co’s holdings in McDonald’s were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. lifted its position in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares during the period. Riversedge Advisors LLC raised its holdings in shares of McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its holdings in shares of McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares during the period. Founders Financial Alliance LLC raised its holdings in shares of McDonald’s by 0.7% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after purchasing an additional 36 shares during the period. Finally, McAdam LLC raised its holdings in shares of McDonald’s by 1.7% in the 3rd quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock worth $663,000 after purchasing an additional 36 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $298.75 on Thursday. The business’s fifty day moving average price is $296.97 and its two-hundred day moving average price is $274.51. The company has a market capitalization of $215.30 billion, a P/E ratio of 25.36, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.17 EPS. On average, research analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company 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 $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Analysts Set New Price Targets

A number of research firms have recently commented on MCD. UBS Group raised their price objective on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Wednesday. Truist Financial raised their target price on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Tigress Financial raised their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $318.22.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,998 shares of company stock valued at $9,935,493. Corporate insiders own 0.23% of the company’s stock.

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.