Montecito Bank & Trust Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Montecito Bank & Trust reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,634 shares of the fast-food giant’s stock after selling 264 shares during the quarter. Montecito Bank & Trust’s holdings in McDonald’s were worth $1,716,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MCD. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter worth about $38,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the second quarter valued at approximately $59,000. Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s in the second quarter worth $65,000. Macroview Investment Management LLC boosted its position in shares of McDonald’s by 433.3% during the second 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 during the last quarter. Finally, Lynx Investment Advisory purchased a new position in McDonald’s during the second quarter valued at $75,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on MCD. TD Cowen reissued a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Citigroup boosted their target price on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Morgan Stanley raised their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Stock Down 1.1 %

Shares of McDonald’s stock opened at $294.00 on Thursday. The firm has a market cap of $210.90 billion, a PE ratio of 25.81, a P/E/G ratio of 3.89 and a beta of 0.74. The business has a 50-day moving average price of $298.74 and a 200 day moving average price of $276.35. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 EPS. On average, sell-side analysts expect that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced 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 of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock worth $10,698,289 in the last 90 days. 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.