Rockland Trust Co. Increases Stock Holdings in McDonald’s Corporation $MCD

Rockland Trust Co. boosted its stake in McDonald’s Corporation (NYSE:MCD) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,433 shares of the fast-food giant’s stock after acquiring 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.

A number of other hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC lifted its position in shares of McDonald’s by 8.2% during the third quarter. Wealthfront Advisers LLC now owns 72,999 shares of the fast-food giant’s stock worth $22,184,000 after purchasing an additional 5,506 shares in the last quarter. Navellier & Associates Inc. lifted its holdings in McDonald’s by 17.7% in the 3rd quarter. Navellier & Associates Inc. now owns 5,940 shares of the fast-food giant’s stock worth $1,805,000 after buying an additional 895 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its position in McDonald’s by 2.5% in the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 1,490 shares of the fast-food giant’s stock valued at $453,000 after buying an additional 36 shares during the last quarter. Centerpoint Advisors LLC grew its stake in shares of McDonald’s by 20.7% during the third quarter. Centerpoint Advisors LLC now owns 222 shares of the fast-food giant’s stock valued at $67,000 after acquiring an additional 38 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of McDonald’s by 1.9% during the third quarter. Prospera Financial Services Inc now owns 66,303 shares of the fast-food giant’s stock worth $20,157,000 after acquiring an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at approximately $2,005,760. This trade represents a 28.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. The trade was a 58.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,008 shares of company stock valued at $9,895,452 over the last quarter. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $325.57 on Tuesday. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $328.06. The firm’s 50-day moving average is $311.40 and its 200-day moving average is $307.60. The company has a market cap of $231.85 billion, a P/E ratio of 27.78, a PEG ratio of 3.31 and a beta of 0.52.

McDonald’s Announces Dividend

The business 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 dividend of $1.86 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $7.44 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio is 63.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCD shares. Sanford C. Bernstein reissued an “overweight” rating and issued a $372.00 price target on shares of McDonald’s in a report on Wednesday, January 7th. Mizuho increased their target price on McDonald’s from $300.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group reissued a “buy” rating and set a $350.00 price target on shares of McDonald’s in a research report on Monday, February 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a report on Wednesday, October 22nd. Finally, Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a report on Friday, October 17th. Fifteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and an average price target of $332.30.

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.