Trustmark National Bank Trust Department Trims Holdings in McDonald’s Co. (NYSE:MCD)

Trustmark National Bank Trust Department reduced its stake in McDonald’s Co. (NYSE:MCD) by 22.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,135 shares of the fast-food giant’s stock after selling 3,569 shares during the quarter. Trustmark National Bank Trust Department’s holdings in McDonald’s were worth $3,695,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MCD shares. Evercore ISI raised their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Truist Financial lowered their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,596 shares of company stock valued at $10,698,289. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.1 %

NYSE MCD opened at $290.89 on Thursday. The business’s 50-day moving average price is $300.06 and its 200 day moving average price is $277.84. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization of $208.46 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.87 and a beta of 0.74.

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

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

About McDonald’s

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.