First Citizens Bank & Trust Co. Reduces Stake in McDonald’s Corporation $MCD

First Citizens Bank & Trust Co. decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 3.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,509 shares of the fast-food giant’s stock after selling 546 shares during the period. First Citizens Bank & Trust Co.’s holdings in McDonald’s were worth $3,947,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCD. Nuveen LLC purchased a new stake in McDonald’s during the 1st quarter worth about $1,324,961,000. Price T Rowe Associates Inc. MD increased its stake in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in McDonald’s by 732.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in McDonald’s by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after acquiring an additional 407,982 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCD. Citigroup decreased their target price on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Melius began coverage on McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective for the company. Finally, Truist Financial reduced their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $324.50.

Insider Buying and Selling

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,463 shares of company stock worth $1,692,186 in the last 90 days. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 1.0%

Shares of NYSE:MCD opened at $307.01 on Friday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a market cap of $219.08 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.28 and a beta of 0.50. The business’s 50 day moving average is $306.55 and its 200 day moving average is $305.56.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the firm earned $2.97 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.