Community Trust & Investment Co. Buys 3,209 Shares of McDonald’s Corporation $MCD

Community Trust & Investment Co. raised its position in McDonald’s Corporation (NYSE:MCD) by 19.8% during the third quarter, HoldingsChannel.com reports. The firm owned 19,418 shares of the fast-food giant’s stock after buying an additional 3,209 shares during the quarter. Community Trust & Investment Co.’s holdings in McDonald’s were worth $4,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Purpose Unlimited Inc. purchased a new position in McDonald’s in the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. purchased a new stake in McDonald’s during the 1st quarter worth $33,000. Merkkuri Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter valued at about $43,000. Burkett Financial Services LLC lifted its stake in shares of McDonald’s by 2,312.5% in the third quarter. Burkett Financial Services LLC now owns 193 shares of the fast-food giant’s stock worth $45,000 after acquiring an additional 185 shares in the last quarter. Finally, POM Investment Strategies LLC increased its holdings in McDonald’s by 46.2% during the 2nd quarter. POM Investment Strategies LLC now owns 174 shares of the fast-food giant’s stock worth $47,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $242.67 on Friday. The stock’s fifty day simple moving average is $252.68 and its 200 day simple moving average is $272.30. McDonald’s Corporation has a one year low of $229.20 and a one year high of $341.75. The firm has a market cap of $171.72 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 2.67 and a beta of 0.44.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.06. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.13 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 572.06%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. On average, research analysts anticipate that McDonald’s Corporation will post 12.84 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $1.93 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $7.72 dividend on an annualized basis and a dividend yield of 3.2%. McDonald’s’s dividend payout ratio (DPR) is currently 60.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of McDonald’s from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, September 24th. Morgan Stanley dropped their price objective on McDonald’s from $308.00 to $297.00 and set an “equal weight” rating on the stock in a research note on Monday, September 28th. Citigroup dropped their target price on shares of McDonald’s from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Mizuho dropped their target price on shares of McDonald’s from $300.00 to $290.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Oppenheimer lowered their target price on McDonald’s from $325.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.94.

Key McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Consumer-stock rotation provided support. Investors have been shifting money out of technology stocks and into beaten-down consumer names, giving McDonald’s and other restaurant stocks a lift. These Consumer Stocks Are Getting a Lift as Investors Rotate Out of Tech
• Positive Sentiment: Options trading indicates near-term bullish positioning. Traders purchased 42,937 MCD call options, about 24% above typical daily call volume. This can signal expectations for a rebound, although it does not guarantee sustained buying.
• Positive Sentiment: Limited-time promotions may help traffic. McDonald’s is bringing back a popular meal and its Halloween Boo Buckets, featuring a Disney-villain theme. These promotions could support customer engagement and sales during the quarter. McDonald’s is bringing back an iconic meal for a limited time
• Positive Sentiment: Dividend status remains a long-term attraction. McDonald’s has become a Dividend King, supported by its franchised business model, royalty income and pricing power. Nevertheless, future dividend growth depends on earnings recovery. McDonald’s Dividend King Status Is Impressive, but Valuation Still Matters

About McDonald’s

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.