Trustmark National Bank Trust Department Sells 3,569 Shares of McDonald’s Co. (NYSE:MCD)

21 Nov 2024, 14:14 by Amy Steele · The Cerbat Gem

Trustmark National Bank Trust Department trimmed its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,135 shares of the fast-food giant’s stock after selling 3,569 shares during the period. Trustmark National Bank Trust Department’s holdings in McDonald’s were worth $3,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC bought a new stake in shares of McDonald’s during the 3rd quarter worth approximately $44,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the second quarter valued at $38,000. Peterson Financial Group Inc. bought a new position in shares of McDonald’s in the third quarter worth about $58,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at about $65,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI upped their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Bank of America raised their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Tigress Financial upped their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

View Our Latest Research Report on McDonald’s

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value 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 trade represents a 48.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on 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 owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Performance

Shares of MCD opened at $290.89 on Thursday. The company has a market capitalization of $208.46 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.87 and a beta of 0.74. The business’s 50-day moving average is $300.06 and its two-hundred day moving average is $277.84. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast 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 issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s dividend payout ratio is 58.65%.

McDonald’s Profile

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