McDonald’s Co. (NYSE:MCD) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its holdings in McDonald’s Co. (NYSE:MCD) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,021 shares of the fast-food giant’s stock after selling 331 shares during the quarter. Wesbanco Bank Inc.’s holdings in McDonald’s were worth $10,055,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the 1st quarter worth $28,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter valued at about $38,000. Keener Financial Planning LLC lifted its stake in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new position in McDonald’s during the second quarter worth about $59,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s in the first quarter valued at about $69,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Truist Financial decreased their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Evercore ISI raised their price target on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Robert W. Baird lifted their price target on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley lowered their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $310.50.

McDonald’s Stock Up 1.6 %

Shares of MCD stock opened at $310.05 on Tuesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $310.42. The firm’s 50 day moving average price is $291.04 and its two-hundred day moving average price is $272.69. The stock has a market cap of $223.45 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the firm posted $3.17 EPS. The business’s revenue was down .1% compared to the same quarter last year. On average, equities analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,751 shares of company stock valued at $9,493,973. Corporate insiders own 0.23% of the company’s stock.

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.