First Interstate Bank Has $5.61 Million Stake in McDonald’s Co. (NYSE:MCD)

First Interstate Bank trimmed its stake in McDonald’s Co. (NYSE:MCD) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,921 shares of the fast-food giant’s stock after selling 563 shares during the period. First Interstate Bank’s holdings in McDonald’s were worth $5,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Shulman DeMeo Asset Management LLC grew its holdings in McDonald’s by 12.2% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after acquiring an additional 114 shares during the period. Beaumont Financial Advisors LLC grew its holdings in McDonald’s by 0.6% during the 3rd quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after acquiring an additional 450 shares during the period. First National Bank of Mount Dora Trust Investment Services grew its holdings in McDonald’s by 2.8% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after acquiring an additional 301 shares during the period. Mengis Capital Management Inc. boosted its position in shares of McDonald’s by 7.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after purchasing an additional 331 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its position in shares of McDonald’s by 7.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the fast-food giant’s stock worth $323,000 after purchasing an additional 88 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

NYSE:MCD traded down $0.86 during trading hours on Tuesday, hitting $265.37. The stock had a trading volume of 2,912,505 shares, compared to its average volume of 3,243,292. The company has a 50 day simple moving average of $284.60 and a two-hundred day simple moving average of $280.75. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The firm has a market capitalization of $191.33 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.89 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the firm posted $2.59 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that McDonald’s Co. will post 12.35 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, February 29th. McDonald’s’s dividend payout ratio is presently 57.74%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCD. StockNews.com cut shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Royal Bank of Canada cut their price objective on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. Barclays dropped their price target on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Truist Financial dropped their price target on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a research report on Wednesday, March 27th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by 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.