First County Bank CT Has $1.41 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

First County Bank CT raised its stake in McDonald’s Co. (NYSE:MCD) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,633 shares of the fast-food giant’s stock after acquiring an additional 111 shares during the period. First County Bank CT’s holdings in McDonald’s were worth $1,411,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of analyst reports. Barclays lifted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Citigroup increased their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. UBS Group upped their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial decreased their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Trading Down 0.9 %

NYSE MCD opened at $288.32 on Friday. The company has a market cap of $206.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.87 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a 50 day moving average of $299.98 and a 200-day moving average of $277.91.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the business earned $3.19 earnings per share. McDonald’s’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 48.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade 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 34,498 shares of company stock valued at $10,381,296. 0.23% of the stock is currently owned by corporate insiders.

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.