Somerset Trust Co Sells 90 Shares of McDonald’s Co. (NYSE:MCD)

Somerset Trust Co cut its stake in McDonald’s Co. (NYSE:MCD) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,185 shares of the fast-food giant’s stock after selling 90 shares during the quarter. McDonald’s accounts for about 2.0% of Somerset Trust Co’s portfolio, making the stock its 14th biggest position. Somerset Trust Co’s holdings in McDonald’s were worth $5,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after purchasing an additional 599,745 shares during the period. Price T Rowe Associates Inc. MD boosted its position in McDonald’s by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares during the period. Legal & General Group Plc raised its position in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the period. Gallagher Fiduciary Advisors LLC boosted its holdings in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors raised its holdings in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,751 shares of company stock valued at $9,493,973 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.6 %

Shares of McDonald’s stock opened at $303.84 on Thursday. The business has a fifty day simple moving average of $288.93 and a two-hundred day simple moving average of $272.20. The firm has a market capitalization of $218.97 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm earned $3.17 EPS. The company’s revenue was down .1% on a year-over-year basis. Analysts predict that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 60.10%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets decreased their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley cut their price objective on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus lowered 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 note on Monday, July 22nd. Finally, 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 report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.50.

McDonald’s Company 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.