Mechanics Financial Corp Has $1.51 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Mechanics Financial Corp trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,213 shares of the fast-food giant’s stock after selling 53 shares during the period. Mechanics Financial Corp’s holdings in McDonald’s were worth $1,511,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCD. United Bank raised its holdings in shares of McDonald’s by 3.5% in the 3rd quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock worth $1,963,000 after buying an additional 218 shares in the last quarter. Loomis Sayles & Co. L P grew its position in McDonald’s by 7.2% in the third quarter. Loomis Sayles & Co. L P now owns 1,053 shares of the fast-food giant’s stock valued at $321,000 after acquiring an additional 71 shares during the period. Cynosure Group LLC acquired a new position in McDonald’s during the third quarter worth $216,000. Public Sector Pension Investment Board lifted its holdings in shares of McDonald’s by 11.6% during the third quarter. Public Sector Pension Investment Board now owns 30,844 shares of the fast-food giant’s stock valued at $9,392,000 after acquiring an additional 3,200 shares during the period. Finally, Vinva Investment Management Ltd grew its holdings in shares of McDonald’s by 28.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 13,773 shares of the fast-food giant’s stock worth $4,183,000 after purchasing an additional 3,074 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCD. Robert W. Baird lifted their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Erste Group Bank upgraded McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. BMO Capital Markets raised their price target on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, Piper Sandler reduced their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Trading Down 1.8 %

McDonald’s stock opened at $306.95 on Friday. The firm has a market capitalization of $219.31 billion, a P/E ratio of 26.95, a PEG ratio of 3.10 and a beta of 0.71. The business has a 50-day moving average of $301.52 and a 200-day moving average of $298.10. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.31%. McDonald’s’s dividend payout ratio is presently 62.16%.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,405 shares of company stock valued at $9,886,656. Company insiders own 0.23% of the company’s stock.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.