Burke & Herbert Bank & Trust Co. Reduces Holdings in McDonald’s Co. (NYSE:MCD)

Burke & Herbert Bank & Trust Co. lowered its position in McDonald’s Co. (NYSE:MCD) by 2.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,148 shares of the fast-food giant’s stock after selling 144 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in McDonald’s were worth $1,568,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MCD. Cypress Wealth Services LLC raised its holdings in shares of McDonald’s by 31.6% in the first quarter. Cypress Wealth Services LLC now owns 1,025 shares of the fast-food giant’s stock worth $289,000 after buying an additional 246 shares during the period. New England Research & Management Inc. increased its stake in McDonald’s by 24.5% in the first quarter. New England Research & Management Inc. now owns 5,517 shares of the fast-food giant’s stock worth $1,556,000 after purchasing an additional 1,085 shares during the period. Silverleafe Capital Partners LLC lifted its position in shares of McDonald’s by 2.8% during the first quarter. Silverleafe Capital Partners LLC now owns 2,350 shares of the fast-food giant’s stock worth $663,000 after purchasing an additional 65 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in shares of McDonald’s by 15.3% during the first quarter. Astoria Portfolio Advisors LLC. now owns 3,329 shares of the fast-food giant’s stock valued at $886,000 after purchasing an additional 441 shares during the period. Finally, S.E.E.D. Planning Group LLC grew its holdings in shares of McDonald’s by 5.1% in the first quarter. S.E.E.D. Planning Group LLC now owns 811 shares of the fast-food giant’s stock worth $229,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD traded down $3.21 during trading hours on Friday, hitting $298.37. 971,788 shares of the company were exchanged, compared to its average volume of 3,436,687. The company’s 50 day moving average price is $296.97 and its 200-day moving average price is $274.51. The stock has a market capitalization of $215.03 billion, a price-to-earnings ratio of 25.60, a PEG 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.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $3.17 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current 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 annualized dividend and a dividend yield of 2.37%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 32,998 shares of company stock valued at $9,935,493 over the last quarter. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MCD shares. Citigroup lifted their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $320.00 to $290.00 in a research note on Wednesday. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Company 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.