McDonald’s Co. (NYSE:MCD) Shares Purchased by Mechanics Bank Trust Department

Mechanics Bank Trust Department boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,959 shares of the fast-food giant’s stock after purchasing an additional 227 shares during the period. McDonald’s makes up 1.4% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 17th largest holding. Mechanics Bank Trust Department’s holdings in McDonald’s were worth $10,645,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of McDonald’s during the first quarter worth $28,000. Kings Path Partners LLC purchased a new position in McDonald’s during the 2nd quarter worth $38,000. Accent Capital Management LLC acquired a new stake in shares of McDonald’s in the 4th quarter worth $44,000. Transcendent Capital Group LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at about $45,000. Finally, Keener Financial Planning LLC increased its stake in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Robert W. Baird raised their price target on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Stifel Nicolaus dropped their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. TD Cowen reissued a “hold” rating and issued a $280.00 target price on shares of McDonald’s in a report on Monday, September 23rd. Finally, Evercore ISI boosted their target price on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.50.

McDonald’s Price Performance

Shares of MCD stock opened at $305.04 on Friday. The company’s fifty day moving average price is $290.21 and its two-hundred day moving average price is $272.56. The firm has a market capitalization of $218.82 billion, a P/E ratio of 26.69, a P/E/G ratio of 4.05 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 released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $3.17 EPS. The company’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is 58.44%.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is currently owned by corporate insiders.

About McDonald’s

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.