CNB Bank Decreases Stake in McDonald’s Co. (NYSE:MCD)

CNB Bank lowered its holdings in McDonald’s Co. (NYSE:MCD) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 8,237 shares of the fast-food giant’s stock after selling 309 shares during the period. McDonald’s accounts for 1.3% of CNB Bank’s portfolio, making the stock its 14th biggest holding. CNB Bank’s holdings in McDonald’s were worth $2,442,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MCD. J.W. Cole Advisors Inc. grew its holdings in shares of McDonald’s by 13.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 18,744 shares of the fast-food giant’s stock worth $5,558,000 after acquiring an additional 2,203 shares during the period. Heirloom Wealth Management grew its holdings in shares of McDonald’s by 2.0% in the fourth quarter. Heirloom Wealth Management now owns 27,947 shares of the fast-food giant’s stock worth $8,287,000 after acquiring an additional 561 shares during the period. Onyx Bridge Wealth Group LLC grew its holdings in shares of McDonald’s by 16.0% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 1,238 shares of the fast-food giant’s stock worth $367,000 after acquiring an additional 171 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in shares of McDonald’s in the fourth quarter worth $60,000. Finally, Zhang Financial LLC grew its holdings in shares of McDonald’s by 2.7% in the fourth quarter. Zhang Financial LLC now owns 2,947 shares of the fast-food giant’s stock worth $874,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MCD shares. Bank of America lifted their price objective on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Morgan Stanley cut their price target on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. UBS Group cut their price target on McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Truist Financial cut their price target on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.72.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

McDonald’s Trading Up 0.4 %

Shares of NYSE MCD opened at $271.99 on Friday. The stock has a market capitalization of $196.11 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.99 and a beta of 0.71. The stock’s fifty day simple moving average is $283.10 and its two-hundred day simple moving average is $280.90. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.12. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.59 EPS. On average, equities analysts predict that McDonald’s Co. will post 12.33 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 annualized dividend and a yield of 2.46%. McDonald’s’s dividend payout ratio (DPR) is presently 57.74%.

About McDonald’s

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.