First Citizens Bank & Trust Co. Sells 568 Shares of McDonald’s Co. (NYSE:MCD)

First Citizens Bank & Trust Co. reduced its holdings in McDonald’s Co. (NYSE:MCD) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,217 shares of the fast-food giant’s stock after selling 568 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in McDonald’s were worth $4,329,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction 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 transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. 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 sold 34,097 shares of company stock worth $10,221,233. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Robert W. Baird boosted their price objective on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Stifel Nicolaus decreased their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Tigress Financial upped their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $315.69.

McDonald’s Trading Up 0.6 %

Shares of NYSE:MCD opened at $316.53 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.18. The stock has a fifty day simple moving average of $294.62 and a two-hundred day simple moving average of $273.73. The stock has a market capitalization of $228.12 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $3.17 EPS. As a group, equities research analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

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

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.