First PREMIER Bank Has $5.05 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

First PREMIER Bank boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.1% in the third quarter, HoldingsChannel reports. The firm owned 16,574 shares of the fast-food giant’s stock after purchasing an additional 182 shares during the quarter. McDonald’s accounts for about 1.3% of First PREMIER Bank’s holdings, making the stock its 25th largest holding. First PREMIER Bank’s holdings in McDonald’s were worth $5,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s in the 1st quarter valued at about $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the second quarter worth approximately $38,000. Accent Capital Management LLC acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $44,000. Transcendent Capital Group LLC bought a new position in shares of McDonald’s during the fourth quarter worth approximately $45,000. Finally, Keener Financial Planning LLC lifted its holdings in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $302.88 on Wednesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $306.96. The firm has a market cap of $218.28 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73. The firm’s fifty day moving average is $288.17 and its 200-day moving average is $271.98.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. 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. McDonald’s’s dividend payout ratio is currently 60.10%.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCD has been the topic of several recent research reports. Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Guggenheim lifted their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus decreased their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. KeyCorp lifted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.12.

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.