CNB Bank Lowers Position in McDonald’s Co. (NYSE:MCD)

CNB Bank decreased its stake in McDonald’s Co. (NYSE:MCD) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,191 shares of the fast-food giant’s stock after selling 146 shares during the quarter. McDonald’s makes up 1.0% of CNB Bank’s portfolio, making the stock its 23rd biggest holding. CNB Bank’s holdings in McDonald’s were worth $2,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the 1st quarter worth approximately $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $38,000. Keener Financial Planning LLC boosted its holdings in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new stake in McDonald’s in the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the second quarter valued at about $65,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCD. Robert W. Baird upped their price objective on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Truist Financial increased their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Bank of America lowered their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Citigroup boosted their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $315.69.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Marion K. Gross sold 1,498 shares of the company’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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,097 shares of company stock worth $10,221,233. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD opened at $316.56 on Friday. The firm has a market capitalization of $228.14 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73. The company has a 50-day moving average of $294.62 and a 200 day moving average of $273.70. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.18.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the firm earned $3.17 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is 60.10%.

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.