Trust Point Inc. Acquires Shares of 6,788 McDonald’s Co. (NYSE:MCD)

Trust Point Inc. bought a new stake in McDonald’s Co. (NYSE:MCDFree Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 6,788 shares of the fast-food giant’s stock, valued at approximately $2,013,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Blue Bell Private Wealth Management LLC raised its position in McDonald’s by 51.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald’s in the 3rd quarter valued at $33,000. Retirement Group LLC purchased a new stake in shares of McDonald’s in the 4th quarter valued at $37,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of McDonald’s in the 3rd quarter valued at $45,000. Finally, Compass Wealth Management LLC purchased a new stake in shares of McDonald’s in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCD shares. TD Cowen reiterated an “outperform” rating and issued a $325.00 price objective on shares of McDonald’s in a report on Tuesday, March 19th. Bank of America boosted their target price on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada lowered their target price on McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Robert W. Baird reissued an “outperform” rating and set a $315.00 target price on shares of McDonald’s in a research note on Tuesday, February 6th. Finally, Truist Financial lowered their target price on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Eight analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.60.

Read Our Latest Report on McDonald’s

McDonald’s Stock Down 0.3 %

MCD traded down $0.89 on Wednesday, hitting $276.85. 848,161 shares of the company traded hands, compared to its average volume of 3,135,406. The company has a 50 day moving average of $289.21 and a 200-day moving average of $280.91. The stock has a market capitalization of $199.90 billion, a PE ratio of 24.01, a PEG ratio of 3.03 and a beta of 0.71. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last issued its earnings results 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 business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.59 EPS. On average, research analysts anticipate that McDonald’s Co. will post 12.38 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio (DPR) is 57.74%.

Insider Transactions at McDonald’s

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

McDonald’s Company Profile

(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

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

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