Trust Point Inc. Takes $2.01 Million Position in McDonald’s Co. (NYSE:MCD)

Trust Point Inc. purchased a new stake in McDonald’s Co. (NYSE:MCDFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,788 shares of the fast-food giant’s stock, valued at approximately $2,013,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC boosted its holdings in McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after purchasing an additional 42 shares during the last quarter. Spartan Planning & Wealth Management acquired a new position in McDonald’s during the third quarter worth $33,000. Retirement Group LLC acquired a new position in McDonald’s during the fourth quarter worth $37,000. Authentikos Wealth Advisory LLC acquired a new position in McDonald’s during the third quarter worth $45,000. Finally, Compass Wealth Management LLC acquired a new position in McDonald’s during the fourth quarter worth $45,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCD. Piper Sandler increased their price target on shares of McDonald’s from $273.00 to $299.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. BTIG Research cut shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. BMO Capital Markets increased their price target on shares of McDonald’s from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, December 7th. StockNews.com cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, HSBC assumed coverage on shares of McDonald’s in a research report on Wednesday, December 20th. They issued a “buy” rating and a $317.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.60.

Read Our Latest Research Report on McDonald’s

McDonald’s Stock Down 0.3 %

MCD stock traded down $0.89 during midday trading on Wednesday, reaching $276.85. 848,161 shares of the company’s stock traded hands, compared to its average volume of 3,135,406. The company has a market cap of $199.90 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 3.03 and a beta of 0.71. The firm’s fifty day moving average price is $289.21 and its 200-day moving average price is $280.91. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.45 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. Analysts forecast that McDonald’s Co. will post 12.38 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, February 29th. McDonald’s’s dividend payout ratio is currently 57.74%.

About McDonald’s

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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