Citizens Business Bank Decreases Stake in McDonald’s Co. (NYSE:MCD)

Citizens Business Bank decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.9% during the fourth quarter, HoldingsChannel reports. The firm owned 11,687 shares of the fast-food giant’s stock after selling 1,135 shares during the quarter. Citizens Business Bank’s holdings in McDonald’s were worth $3,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Vanguard Group Inc. lifted its position in McDonald’s by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 68,449,565 shares of the fast-food giant’s stock worth $18,032,353,000 after acquiring an additional 262,147 shares during the period. Northern Trust Corp lifted its holdings in shares of McDonald’s by 1.7% during the third quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock worth $2,423,773,000 after purchasing an additional 151,161 shares during the period. Charles Schwab Investment Management Inc. boosted its position in McDonald’s by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,390,035 shares of the fast-food giant’s stock valued at $1,401,570,000 after buying an additional 237,532 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in McDonald’s by 4.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,593,760 shares of the fast-food giant’s stock worth $1,209,171,000 after buying an additional 199,657 shares during the period. Finally, California Public Employees Retirement System raised its position in McDonald’s by 0.7% during the 4th quarter. California Public Employees Retirement System now owns 3,911,764 shares of the fast-food giant’s stock worth $1,159,877,000 after buying an additional 26,147 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.2 %

NYSE:MCD traded down $0.48 during trading hours on Tuesday, reaching $273.07. 6,893,865 shares of the stock were exchanged, compared to its average volume of 3,313,933. The business has a 50-day moving average of $281.31 and a two-hundred day moving average of $282.15. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The company has a market capitalization of $196.89 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.98 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the company earned $2.63 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts forecast that McDonald’s Co. will post 12.34 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.45%. McDonald’s’s payout ratio is 57.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MCD shares. Morgan Stanley dropped their price objective on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. UBS Group reduced their price target on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Stephens restated an “overweight” rating and issued a $320.00 price objective on shares of McDonald’s in a report on Monday, February 5th. Bank of America boosted their target price on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, BTIG Research cut McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $317.67.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

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.