Zions Bancorporation N.A. Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Zions Bancorporation N.A. lessened its holdings in McDonald’s Co. (NYSE:MCD) by 14.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,433 shares of the fast-food giant’s stock after selling 242 shares during the quarter. Zions Bancorporation N.A.’s holdings in McDonald’s were worth $436,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new stake in shares of McDonald’s during the 2nd quarter worth $6,612,000. Kennebec Savings Bank purchased a new stake in shares of McDonald’s during the third quarter valued at about $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. raised its stake in shares of McDonald’s by 17.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after acquiring an additional 7,200 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Barclays upped their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus dropped their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Stock Performance

McDonald’s stock opened at $292.52 on Friday. The company’s fifty day moving average price is $300.00 and its 200 day moving average price is $277.29. The stock has a market capitalization of $209.63 billion, a P/E ratio of 25.68, a P/E/G ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

McDonald’s Company Profile

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.