Grove Bank & Trust Has $926,000 Position in McDonald’s Co. (NYSE:MCD)

Grove Bank & Trust lessened its position in McDonald’s Co. (NYSE:MCD) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,040 shares of the fast-food giant’s stock after selling 258 shares during the quarter. Grove Bank & Trust’s holdings in McDonald’s were worth $926,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares in the last quarter. Swedbank AB acquired a new stake in shares of McDonald’s in the 1st quarter valued at approximately $348,206,000. Capital World Investors raised its stake in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after buying an additional 1,012,534 shares during the period. Vanguard Group Inc. boosted its position in McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares during the period. Finally, Mondrian Investment Partners LTD bought a new position in shares of McDonald’s in the second quarter valued at about $110,321,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 1.6 %

McDonald’s stock traded up $4.83 during trading on Monday, hitting $309.87. 766,581 shares of the company were exchanged, compared to its average volume of 3,363,368. The company has a market capitalization of $223.32 billion, a P/E ratio of 25.89, a PEG ratio of 4.05 and a beta of 0.73. The business’s 50 day moving average is $290.21 and its 200 day moving average is $272.49. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $309.87.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the company earned $3.17 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities analysts expect 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 $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 60.10%.

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction on Friday, September 27th. The stock was 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 directly owns 43,256 shares in the company, valued at approximately $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,751 shares of company stock valued at $9,493,973 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on MCD shares. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a report on Tuesday, September 10th. KeyCorp lifted their price target 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. TD Cowen reissued a “hold” rating and set a $280.00 price target on shares of McDonald’s in a report on Monday, September 23rd. Citigroup boosted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Guggenheim upped their price target on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $310.50.

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.