HTLF Bank Sells 334 Shares of McDonald’s Co. (NYSE:MCD)

HTLF Bank lessened its holdings in McDonald’s Co. (NYSE:MCD) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 9,518 shares of the fast-food giant’s stock after selling 334 shares during the quarter. HTLF Bank’s holdings in McDonald’s were worth $2,898,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Hantz Financial Services Inc. purchased a new stake in McDonald’s during the 2nd quarter valued at about $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the last quarter. BNP Paribas purchased a new position in shares of McDonald’s in the first quarter worth $7,898,000. First Long Island Investors LLC raised its holdings in McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after buying an additional 7,707 shares during the last quarter. Finally, Lloyd Advisory Services LLC. boosted its position in McDonald’s by 504.6% during the 1st quarter. Lloyd Advisory Services LLC. now owns 9,165 shares of the fast-food giant’s stock valued at $2,584,000 after buying an additional 7,649 shares during the period. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 1.1 %

NYSE:MCD traded up $3.48 on Tuesday, reaching $313.32. 3,066,489 shares of the stock traded hands, compared to its average volume of 3,369,963. The company has a market capitalization of $225.80 billion, a price-to-earnings ratio of 26.61, a PEG 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 $315.36. The company’s fifty day simple moving average is $291.04 and its 200 day simple moving average is $272.69.

McDonald’s (NYSE:MCD) last announced its quarterly 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). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $3.17 EPS. Equities analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.26%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Evercore ISI lifted their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday. Truist Financial upped their target price on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.92.

Insider Activity at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’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 completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on 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 sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock valued at $10,221,233 over the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s Profile

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.