Citizens Business Bank Has $3.40 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Citizens Business Bank lessened its position in McDonald’s Co. (NYSE:MCD) by 1.7% in the third quarter, HoldingsChannel reports. The fund owned 11,166 shares of the fast-food giant’s stock after selling 191 shares during the quarter. Citizens Business Bank’s holdings in McDonald’s were worth $3,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Steigerwald Gordon & Koch Inc. lifted its position in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after buying an additional 33 shares during the period. Riversedge Advisors LLC lifted its position in McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC boosted its stake in McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after acquiring an additional 35 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in shares of McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.2 %

Shares of NYSE:MCD opened at $300.76 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The company has a market cap of $215.53 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 4.01 and a beta of 0.73. The stock has a 50 day moving average of $299.37 and a 200 day moving average of $280.30.

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

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Transactions at McDonald’s

In related news, CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares in the company, valued at approximately $6,121,716.12. The trade was a 22.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,099 shares of company stock valued at $10,273,786. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. KeyCorp increased their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets lifted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.64.

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.