Bank of Jackson Hole Trust Increases Stake in McDonald’s by 20.5%

The Bank of Jackson Hole Trust has expanded its investment in McDonald’s Corporation (NYSE: MCD) by **20.5%** during the second quarter of 2023. This increase follows the acquisition of an additional **662 shares**, bringing the total number of shares owned by the trust to **3,898**. As of its most recent filing with the Securities and Exchange Commission (SEC), the value of the trust’s holdings in McDonald’s is approximately **$1,139,000**.

Other institutional investors have also made adjustments to their positions in McDonald’s. Notably, HFM Investment Advisors LLC and Nova Wealth Management Inc. each acquired new stakes in the company during the first quarter, valued at around **$26,000**. GFG Capital LLC, Abound Financial LLC, and Redmont Wealth Advisors LLC also entered the market, with investments ranging from **$29,000** to **$31,000**. Currently, institutional investors and hedge funds collectively hold **70.29%** of McDonald’s stock.

Stock Performance and Dividend Announcement

On Wednesday, McDonald’s shares opened at **$306.79**, reflecting a **1.0%** decrease. The stock has experienced fluctuations over the past year, with a **52-week low of $276.53** and a **52-week high of $326.32**. With a market capitalization of **$218.93 billion**, McDonald’s maintains a price-to-earnings ratio of **26.29** and a beta of **0.50**. The company recently announced a quarterly dividend of **$1.86**, slated for distribution on **December 15, 2023**. Stockholders of record by **December 1** will receive this payment, representing an annualized dividend of **$7.44** and a yield of **2.4%**. This marks an increase from the previous dividend of **$1.77**, while the payout ratio stands at **60.67%**.

Analyst Ratings and Insider Activity

Recent evaluations from equity research analysts have provided varied insights into McDonald’s stock. On **August 22**, Stifel Nicolaus raised its price target from **$300.00** to **$315.00**, maintaining a “hold” recommendation. In contrast, Truist Financial lowered its target from **$360.00** to **$350.00**, while still rating the stock as a “buy.” Barclays increased its target to **$362.00**, assigning an “overweight” rating, and JPMorgan Chase & Co. adjusted its target to **$310.00** while also giving it an “overweight” rating. Overall, **eleven analysts** have issued buy ratings, **fifteen** have opted for hold ratings, and **two** have recommended sell ratings, resulting in a consensus rating of “hold” and a target price of **$323.43**, according to MarketBeat.com.

In terms of insider trading, **Jonathan Banner**, Executive Vice President, sold **1,000 shares** of the stock on **August 19** for a total of **$310,000**. Following this transaction, Banner retains a mere **99 shares** valued at approximately **$30,690**, indicating a **90.99%** reduction in his ownership. Additionally, **Edith Morgan Flatley**, Chief Marketing Officer, sold **1,000 shares** on **September 2** for **$315,000**. Post-sale, she owns **6,858 shares**, worth around **$2,160,270**, reflecting a **12.73%** decrease in her stake. Over the past three months, corporate insiders have sold **5,463 shares** totaling **$1,692,186**, with insiders owning **0.25%** of the company’s stock.

McDonald’s Corporation operates and franchises restaurants worldwide, categorizing its operations into three main segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses primarily on operations within the United States, while the International Operated Markets cover various countries, including Australia, Canada, and the United Kingdom.