Glenview Trust Co Sells 8,510 Shares of McDonald’s Corporation $MCD

Glenview Trust Co cut its holdings in McDonald’s Corporation (NYSE:MCD) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,971 shares of the fast-food giant’s stock after selling 8,510 shares during the quarter. Glenview Trust Co’s holdings in McDonald’s were worth $29,469,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in McDonald’s by 0.4% during the third quarter. Vanguard Group Inc. now owns 71,647,669 shares of the fast-food giant’s stock worth $21,773,010,000 after acquiring an additional 316,638 shares in the last quarter. State Street Corp raised its holdings in shares of McDonald’s by 0.8% during the second quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock valued at $10,175,800,000 after purchasing an additional 272,139 shares during the period. Geode Capital Management LLC boosted its position in shares of McDonald’s by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock worth $4,901,595,000 after purchasing an additional 276,065 shares in the last quarter. Norges Bank acquired a new stake in shares of McDonald’s in the 2nd quarter valued at about $2,780,712,000. Finally, Laurel Wealth Advisors LLC increased its position in McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after buying an additional 5,718,087 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on McDonald’s from $345.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer upgraded McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 target price on the stock in a report on Tuesday, January 6th. Citigroup upped their price objective on shares of McDonald’s from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler lifted their price objective on shares of McDonald’s from $323.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Guggenheim lowered their target price on shares of McDonald’s from $325.00 to $320.00 and set a “neutral” rating on the stock in a report on Friday. Fifteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and a consensus target price of $337.04.

McDonald’s Stock Down 1.4%

MCD stock opened at $327.58 on Tuesday. The firm has a market cap of $233.29 billion, a PE ratio of 27.41, a P/E/G ratio of 3.32 and a beta of 0.52. The business has a 50 day moving average of $313.38 and a 200-day moving average of $308.53. McDonald’s Corporation has a 12-month low of $283.47 and a 12-month high of $335.67.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.07. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. McDonald’s had a negative return on equity of 343.90% and a net margin of 31.85%.McDonald’s’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $2.83 earnings per share. On average, research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. McDonald’s’s payout ratio is 62.26%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 2,626 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $325.25, for a total transaction of $854,106.50. Following the completion of the sale, the insider owned 5,398 shares in the company, valued at approximately $1,755,699.50. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,486 shares of McDonald’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total transaction of $795,520.00. Following the completion of the sale, the executive vice president directly owned 6,268 shares in the company, valued at approximately $2,005,760. This represents a 28.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,439 shares of company stock worth $9,772,464 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.