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

Glenview Trust Co cut its position in McDonald’s Corporation (NYSE:MCD) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in McDonald’s in the 2nd quarter worth about $2,780,712,000. Laurel Wealth Advisors LLC raised its position in shares of McDonald’s by 29,382.3% in the second 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. Soundwatch Capital LLC bought a new stake in shares of McDonald’s in the second quarter valued at approximately $1,412,069,000. Viking Global Investors LP grew its position in McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock worth $913,157,000 after buying an additional 1,974,998 shares in the last quarter. Finally, Amundi increased its stake in McDonald’s by 96.0% during the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after acquiring an additional 1,974,751 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’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 transaction, the executive vice president directly owned 6,268 shares in the company, valued at $2,005,760. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at $8,169,430. This represents a 39.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 31,439 shares of company stock worth $9,772,464. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 1.4%

Shares of MCD opened at $327.58 on Tuesday. The business has a 50-day simple moving average of $313.38 and a two-hundred day simple moving average of $308.53. McDonald’s Corporation has a 12-month low of $283.47 and a 12-month high of $335.67. The stock has a market cap of $233.29 billion, a PE ratio of 27.41, a PEG ratio of 3.32 and a beta of 0.52.

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

McDonald’s Dividend Announcement

The firm also recently declared 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. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, March 3rd. McDonald’s’s payout ratio is 62.26%.

Analyst Upgrades and Downgrades

MCD has been the topic of several analyst reports. UBS Group increased their target price on McDonald’s from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho increased their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $340.00 price objective on shares of McDonald’s in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $337.04.

McDonald’s Profile

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.