Greenleaf Trust Lowers Holdings in McDonald’s Co. (NYSE:MCD)

Greenleaf Trust trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,587 shares of the fast-food giant’s stock after selling 503 shares during the period. Greenleaf Trust’s holdings in McDonald’s were worth $10,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the first quarter valued at about $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter valued at approximately $38,000. Keener Financial Planning LLC grew its stake in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s during the second quarter valued at approximately $59,000. Finally, Redmont Wealth Advisors LLC bought a new position in McDonald’s in the first quarter worth approximately $69,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s 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 completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents 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 in the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 6.4 %

Shares of MCD traded down $20.05 during midday trading on Wednesday, hitting $294.64. The company had a trading volume of 3,799,876 shares, compared to its average volume of 3,366,654. The company’s 50 day moving average price is $296.41 and its 200 day moving average price is $274.34. The stock has a market cap of $212.34 billion, a price-to-earnings ratio of 25.10, 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 released its earnings results 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 negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm posted $3.17 EPS. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts anticipate that McDonald’s Co. will post 11.71 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 60.10%.

Analyst Ratings Changes

MCD has been the subject of a number of analyst reports. Citigroup upped their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wedbush restated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Wednesday. TD Cowen restated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research report on Wednesday. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $290.00 to $285.00 in a report on Wednesday. Finally, Truist Financial lifted their price objective on McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s 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.