McDonald’s Corporation $MCD Shares Acquired by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust grew its stake in McDonald’s Corporation (NYSE:MCD) by 20.5% during the second quarter, HoldingsChannel.com reports. The firm owned 3,898 shares of the fast-food giant’s stock after purchasing an additional 662 shares during the period. Bank of Jackson Hole Trust’s holdings in McDonald’s were worth $1,139,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MCD. HFM Investment Advisors LLC acquired a new stake in McDonald’s during the first quarter worth about $26,000. Nova Wealth Management Inc. acquired a new stake in McDonald’s during the first quarter worth about $26,000. GFG Capital LLC acquired a new stake in McDonald’s during the second quarter worth about $29,000. Abound Financial LLC acquired a new stake in McDonald’s during the first quarter worth about $30,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in McDonald’s during the first quarter worth about $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 1.0%

NYSE MCD opened at $306.79 on Wednesday. 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 $218.93 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 3.31 and a beta of 0.50. The company has a 50-day moving average price of $306.44 and a two-hundred day moving average price of $305.71.

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

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is 60.67%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MCD shares. Stifel Nicolaus increased their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Truist Financial dropped their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Barclays increased their price objective on shares of McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Piper Sandler restated a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research report on Wednesday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $323.43.

Insider Activity

In other news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,463 shares of company stock worth $1,692,186 over the last three months. Corporate insiders own 0.25% of the company’s stock.

McDonald’s 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.