Commerce Bank Sells 8,573 Shares of McDonald’s Co. (NYSE:MCD)

Commerce Bank lessened its position in McDonald’s Co. (NYSE:MCD) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 497,356 shares of the fast-food giant’s stock after selling 8,573 shares during the period. McDonald’s comprises 0.9% of Commerce Bank’s investment portfolio, making the stock its 18th largest holding. Commerce Bank’s holdings in McDonald’s were worth $151,450,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCD. Quent Capital LLC boosted its stake in shares of McDonald’s by 10.4% during the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock valued at $848,000 after purchasing an additional 282 shares during the period. Ossiam lifted its holdings in McDonald’s by 34.9% during the 1st quarter. Ossiam now owns 22,951 shares of the fast-food giant’s stock valued at $6,471,000 after buying an additional 5,935 shares in the last quarter. CreativeOne Wealth LLC boosted its position in McDonald’s by 16.6% in the 1st quarter. CreativeOne Wealth LLC now owns 12,153 shares of the fast-food giant’s stock valued at $3,427,000 after buying an additional 1,730 shares during the period. Freestone Capital Holdings LLC grew its stake in McDonald’s by 2.7% in the 1st quarter. Freestone Capital Holdings LLC now owns 19,798 shares of the fast-food giant’s stock worth $5,582,000 after acquiring an additional 512 shares in the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new position in shares of McDonald’s during the first quarter worth approximately $476,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.1 %

NYSE:MCD opened at $290.68 on Wednesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company’s 50 day moving average is $300.04 and its two-hundred day moving average is $277.75. The company has a market cap of $208.31 billion, a PE ratio of 25.52, a P/E/G ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. As a group, analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal 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 given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.44%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCD. TD Cowen reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and cut their price target for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Tigress Financial upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. UBS Group raised their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is owned by company insiders.

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.