McDonald’s Co. (NYSE:MCD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 399,434 shares of the fast-food giant’s stock after selling 8,801 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of McDonald’s worth $121,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after acquiring an additional 677,139 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of McDonald’s in the 2nd quarter worth $110,321,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of McDonald’s during the third quarter worth $121,254,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This represents a 8.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,597 shares of company stock worth $10,702,754 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on MCD. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI boosted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Bank of America raised their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp raised their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $319.64.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $296.01 on Monday. The firm has a market cap of $212.13 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The firm’s 50-day simple moving average is $299.96 and its 200-day simple moving average is $279.04. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal 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 2.39%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is 62.16%.

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.