Indiana Trust & Investment Management Co Has $1.28 Million Stock Position in McDonald’s Co. (NYSE:MCD)

by · The Cerbat Gem

Indiana Trust & Investment Management Co cut its position in McDonald’s Co. (NYSE:MCD – Free Report) by 12.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,215 shares of the fast-food giant’s stock after selling 600 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in McDonald’s were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the first quarter worth about $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the second quarter valued at approximately $38,000. Keener Financial Planning LLC grew its stake in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in McDonald’s during the second quarter worth $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in McDonald’s during the 2nd quarter valued at $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCD. Wedbush restated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Tigress Financial upped their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird lifted their price objective on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Citigroup upped their target price on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.92.

Read Our Latest Report on McDonald’s

McDonald’s Stock Performance

NYSE:MCD traded down $0.14 on Wednesday, hitting $313.20. 769,929 shares of the stock were exchanged, compared to its average volume of 3,356,967. The stock has a market capitalization of $225.72 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $315.36. The company’s 50-day moving average price is $291.90 and its 200 day moving average price is $272.91.

McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.17 EPS. As a group, equities research analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

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

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock worth $10,221,233. Insiders own 0.23% of the company’s stock.

McDonald’s Profile

(Free Report)

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.

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