First Interstate Bank Has $4.50 Million Position in McDonald’s Co. (NYSE:MCD)

First Interstate Bank lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 17,644 shares of the fast-food giant’s stock after selling 420 shares during the period. First Interstate Bank’s holdings in McDonald’s were worth $4,496,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Gilbert & Cook Inc. increased its holdings in McDonald’s by 20.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock valued at $1,300,000 after purchasing an additional 753 shares during the last quarter. Aveo Capital Partners LLC grew its position in shares of McDonald’s by 14.5% during the 4th quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after buying an additional 240 shares during the period. 9258 Wealth Management LLC increased its stake in shares of McDonald’s by 4.2% in the 4th quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock valued at $829,000 after acquiring an additional 113 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in shares of McDonald’s by 99.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock valued at $1,722,000 after acquiring an additional 2,935 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of McDonald’s by 10.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 25,545 shares of the fast-food giant’s stock valued at $7,574,000 after acquiring an additional 2,350 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,291 shares of company stock worth $1,689,073. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $291.22 on Tuesday. The firm has a 50-day moving average of $269.47 and a 200-day moving average of $270.57. The company has a market cap of $209.88 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 3.87 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $3.17 earnings per share. As a group, sell-side analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.29%. McDonald’s’s dividend payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of analyst reports. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and decreased their price objective for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. Tigress Financial boosted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Evercore ISI increased their price target on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.41.

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.