First Financial Bank Trust Division Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

First Financial Bank Trust Division cut its holdings in McDonald’s Co. (NYSE:MCD) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,289 shares of the fast-food giant’s stock after selling 671 shares during the quarter. First Financial Bank Trust Division’s holdings in McDonald’s were worth $4,593,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MCD. General Partner Inc. increased its position in shares of McDonald’s by 25.3% during the first quarter. General Partner Inc. now owns 3,417 shares of the fast-food giant’s stock worth $963,000 after purchasing an additional 689 shares in the last quarter. BancFirst Trust & Investment Management increased its position in shares of McDonald’s by 45.9% during the first quarter. BancFirst Trust & Investment Management now owns 1,434 shares of the fast-food giant’s stock worth $404,000 after purchasing an additional 451 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of McDonald’s by 30.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,455 shares of the fast-food giant’s stock worth $728,000 after purchasing an additional 569 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth approximately $14,603,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of McDonald’s during the fourth quarter worth approximately $20,052,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders sold 4,096 shares of company stock valued at $1,127,678 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCD. Morgan Stanley lowered their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Wedbush lowered their price objective on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Guggenheim lowered their price objective on McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Truist Financial decreased their price target on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a research note on Wednesday, March 27th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.14.

McDonald’s Price Performance

MCD opened at $250.79 on Wednesday. The business has a 50 day simple moving average of $265.25 and a 200-day simple moving average of $280.88. The stock has a market capitalization of $180.74 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.85 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:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 earnings per share. Research analysts anticipate that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s payout ratio is currently 56.71%.

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.