Central Pacific Bank Trust Division Has $805,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Central Pacific Bank Trust Division decreased its position in McDonald’s Co. (NYSE:MCD) by 18.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,576 shares of the fast-food giant’s stock after selling 573 shares during the period. Central Pacific Bank Trust Division’s holdings in McDonald’s were worth $805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $25,000. Atala Financial Inc acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $27,000. Collier Financial acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $29,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of McDonald’s in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several research analyst reports. KeyCorp upped their price target on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Barclays boosted their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Truist Financial set a $350.00 price objective on shares of McDonald’s in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut their price objective on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.91.

McDonald’s Price Performance

Shares of MCD opened at $313.68 on Friday. The firm has a market capitalization of $224.29 billion, a PE ratio of 27.54, a PEG ratio of 3.10 and a beta of 0.57. The company’s 50-day moving average is $312.40 and its 200-day moving average is $302.00. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 earnings per share. Analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, June 2nd. McDonald’s’s payout ratio is presently 62.49%.

About McDonald’s

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.