Whittier Trust Co. Has $21.89 Million Stake in McDonald’s Co. (NYSE:MCD)

Whittier Trust Co. lowered its position in McDonald’s Co. (NYSE:MCD) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,884 shares of the fast-food giant’s stock after selling 3,810 shares during the quarter. Whittier Trust Co.’s holdings in McDonald’s were worth $21,889,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Steigerwald Gordon & Koch Inc. lifted its position in shares of McDonald’s by 2.4% in 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 last quarter. Riversedge Advisors LLC increased its position in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its stake 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 valued at $1,057,000 after buying an additional 35 shares in the last quarter. Founders Financial Alliance LLC lifted its stake in McDonald’s by 0.7% during the second 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, 9258 Wealth Management LLC lifted its position in shares of McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were 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 directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of MCD traded down $1.45 during mid-day trading on Monday, hitting $315.11. 1,426,042 shares of the company’s stock were exchanged, compared to its average volume of 3,347,005. The company has a market cap of $227.09 billion, a PE ratio of 26.76, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a 50-day simple moving average of $294.62 and a 200 day simple moving average of $273.69.

McDonald’s (NYSE:MCD) last issued its quarterly 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 negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.17 earnings per share. On average, analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

Analyst Upgrades and Downgrades

MCD has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Truist Financial raised their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Tigress Financial boosted their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird raised their price target on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Bank of America increased their target price on McDonald’s from $308.00 to $322.00 and gave the stock a “neutral” rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $318.59.

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.