Trustmark National Bank Trust Department Sells 3,569 Shares of McDonald’s Co. (NYSE:MCD)

Trustmark National Bank Trust Department trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,135 shares of the fast-food giant’s stock after selling 3,569 shares during the period. Trustmark National Bank Trust Department’s holdings in McDonald’s were worth $3,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC bought a new stake in shares of McDonald’s during the 3rd quarter worth approximately $44,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the second quarter valued at $38,000. Peterson Financial Group Inc. bought a new position in shares of McDonald’s in the third quarter worth about $58,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at about $65,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI upped their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Bank of America raised their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Tigress Financial upped their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the 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 transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over 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.

McDonald’s Stock Performance

Shares of MCD opened at $290.89 on Thursday. The company has a market capitalization of $208.46 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.87 and a beta of 0.74. The business’s 50-day moving average is $300.06 and its two-hundred day moving average is $277.84. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. 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. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s dividend payout ratio is 58.65%.

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.