City Holding Co. Sells 953 Shares of McDonald’s Co. (NYSE:MCD)

City Holding Co. decreased its position in McDonald’s Co. (NYSE:MCD) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,838 shares of the fast-food giant’s stock after selling 953 shares during the period. McDonald’s comprises approximately 1.2% of City Holding Co.’s portfolio, making the stock its 17th biggest holding. City Holding Co.’s holdings in McDonald’s were worth $8,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Country Trust Bank lifted its position in shares of McDonald’s by 64.1% during the 3rd quarter. Country Trust Bank now owns 476 shares of the fast-food giant’s stock valued at $145,000 after buying an additional 186 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in McDonald’s by 21.7% during the third quarter. Atomi Financial Group Inc. now owns 4,499 shares of the fast-food giant’s stock valued at $1,370,000 after purchasing an additional 802 shares during the last quarter. Lbmc Investment Advisors LLC boosted its position in McDonald’s by 23.1% during the third quarter. Lbmc Investment Advisors LLC now owns 1,789 shares of the fast-food giant’s stock worth $545,000 after purchasing an additional 336 shares during the period. Dakota Community Bank & Trust NA increased its stake in shares of McDonald’s by 7.7% in the third quarter. Dakota Community Bank & Trust NA now owns 1,276 shares of the fast-food giant’s stock worth $389,000 after purchasing an additional 91 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of McDonald’s in the third quarter valued at approximately $217,000. 70.29% of the stock is owned by institutional investors.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is owned by company insiders.

McDonald’s Price Performance

Shares of MCD opened at $301.90 on Wednesday. The firm has a market capitalization of $217.57 billion, a P/E ratio of 25.63, a PEG ratio of 3.99 and a beta of 0.73. The business has a fifty day moving average of $287.46 and a 200 day moving average of $271.84. McDonald’s Co. has a one year low of $243.53 and a one year high of $306.96.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $3.17 earnings per share. Analysts expect that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. McDonald’s’s dividend payout ratio is 60.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on MCD shares. BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Guggenheim upped their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI lifted their price target on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Citigroup upped their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.12.

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.