Connor Clark & Lunn Investment Management Ltd. Has $766,000 Holdings in McDonald's Co. (NYSE:MCD)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 56.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,642 shares of the fast-food giant's stock after selling 3,429 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in McDonald's were worth $766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. United Bank increased its holdings in McDonald's by 3.5% in the 3rd quarter. United Bank now owns 6,446 shares of the fast-food giant's stock valued at $1,963,000 after buying an additional 218 shares during the period. Quest Partners LLC boosted its position in shares of McDonald's by 233.8% during the 3rd quarter. Quest Partners LLC now owns 1,552 shares of the fast-food giant's stock valued at $473,000 after acquiring an additional 1,087 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in McDonald's by 10.9% in the third quarter. Citizens Financial Group Inc. RI now owns 25,203 shares of the fast-food giant's stock valued at $7,675,000 after acquiring an additional 2,477 shares during the period. Pacer Advisors Inc. raised its position in McDonald's by 8.4% in the third quarter. Pacer Advisors Inc. now owns 72,369 shares of the fast-food giant's stock worth $22,037,000 after purchasing an additional 5,638 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in McDonald's by 15.0% during the third quarter. Eagle Asset Management Inc. now owns 563,777 shares of the fast-food giant's stock worth $168,552,000 after purchasing an additional 73,362 shares during the period. 70.29% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research firms have recently weighed in on MCD. Wedbush upped their price objective on McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Erste Group Bank upgraded McDonald's from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Barclays lifted their price objective on McDonald's from $347.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 10th. KeyCorp upped their target price on shares of McDonald's from $320.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Piper Sandler dropped their target price on shares of McDonald's from $297.00 to $290.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $323.39.

McDonald's Price Performance

Shares of NYSE MCD traded up $1.34 during mid-day trading on Tuesday, hitting $307.01. The company's stock had a trading volume of 2,657,000 shares, compared to its average volume of 3,336,565. The stock has a market cap of $219.35 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The company's fifty day simple moving average is $299.21 and its 200-day simple moving average is $297.65. McDonald's Co. has a one year low of $243.53 and a one year high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. On average, sell-side analysts predict that McDonald's Co. will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. McDonald's's dividend payout ratio is presently 62.16%.

Insider Buying and Selling at McDonald's

In other McDonald's news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 3,200 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total transaction of $962,432.00. Following the completion of the transaction, the chief marketing officer now directly owns 9,858 shares of the company's stock, valued at $2,964,892.08. This trade represents a 24.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,405 shares of company stock valued at $9,886,656. 0.23% of the stock is currently owned by company insiders.

McDonald's Profile

McDonald's Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.