McDonald’s Co. (NYSE:MCD) Shares Sold by Montecito Bank & Trust

Montecito Bank & Trust reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,543 shares of the fast-food giant’s stock after selling 91 shares during the period. Montecito Bank & Trust’s holdings in McDonald’s were worth $1,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s during the third quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s in the third quarter valued at approximately $31,000. Hara Capital LLC purchased a new position in McDonald’s in the third quarter valued at approximately $44,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s during the third quarter worth approximately $58,000. Finally, FSA Wealth Management LLC purchased a new position in shares of McDonald’s in the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares in the company, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,605 shares of company stock valued at $2,508,102 over the last ninety days. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCD. KeyCorp raised their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley decreased their target price on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company lifted their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Loop Capital reiterated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.22.

McDonald’s Stock Up 1.1 %

Shares of NYSE MCD opened at $284.49 on Friday. The stock has a market cap of $203.87 billion, a P/E ratio of 24.98, a P/E/G ratio of 3.66 and a beta of 0.73. The firm’s 50-day simple moving average is $291.49 and its 200 day simple moving average is $287.90. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 earnings per share. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.

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.