McDonald’s Corporation $MCD Shares Acquired by Rockland Trust Co.

Rockland Trust Co. increased its holdings in McDonald’s Corporation (NYSE:MCD) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,433 shares of the fast-food giant’s stock after buying an additional 3,919 shares during the quarter. Rockland Trust Co.’s holdings in McDonald’s were worth $14,718,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of McDonald’s by 84.1% in the 2nd quarter. Federated Hermes Inc. now owns 141,775 shares of the fast-food giant’s stock worth $41,422,000 after acquiring an additional 64,757 shares during the period. Global X Japan Co. Ltd. lifted its position in McDonald’s by 236.7% in the third quarter. Global X Japan Co. Ltd. now owns 6,502 shares of the fast-food giant’s stock worth $1,976,000 after purchasing an additional 4,571 shares during the period. Welch Group LLC boosted its stake in McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after purchasing an additional 2,180 shares in the last quarter. D.A. Davidson & CO. boosted its stake in McDonald’s by 2.7% during the 3rd quarter. D.A. Davidson & CO. now owns 143,492 shares of the fast-food giant’s stock valued at $43,606,000 after purchasing an additional 3,774 shares in the last quarter. Finally, Choreo LLC increased its position in shares of McDonald’s by 1.7% during the 2nd quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock valued at $17,096,000 after purchasing an additional 954 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, EVP Manuel Jm Steijaert sold 6,567 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the completion of the sale, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,407,133. This trade represents a 58.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 32,008 shares of company stock worth $9,895,452. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research analyst reports. Barclays upped their price objective on McDonald’s from $358.00 to $372.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Citigroup reduced their price objective on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. Guggenheim boosted their target price on shares of McDonald’s from $310.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. KeyCorp raised their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Finally, Wells Fargo & Company lifted their price target on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Fifteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $332.30.

McDonald’s Price Performance

MCD stock opened at $325.57 on Tuesday. The firm has a market capitalization of $231.85 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.31 and a beta of 0.52. McDonald’s Corporation has a 52-week low of $283.47 and a 52-week high of $328.06. The company’s 50 day simple moving average is $311.40 and its 200-day simple moving average is $307.60.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be issued a $1.86 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio is presently 63.48%.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.