Estabrook Capital Management Lowers Stake in McDonald's Co. (NYSE:MCD)

Estabrook Capital Management reduced its stake in McDonald's Co. (NYSE:MCD - Free Report) by 57.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 918 shares of the fast-food giant's stock after selling 1,225 shares during the quarter. Estabrook Capital Management's holdings in McDonald's were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of McDonald's during the 4th quarter valued at approximately $2,725,190,000. Raymond James Financial Inc. acquired a new stake in McDonald's during the fourth quarter worth $703,074,000. Franklin Resources Inc. raised its position in McDonald's by 24.4% in the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant's stock valued at $1,175,326,000 after purchasing an additional 794,536 shares during the period. APG Asset Management N.V. lifted its stake in shares of McDonald's by 1,547.1% in the 4th quarter. APG Asset Management N.V. now owns 641,950 shares of the fast-food giant's stock valued at $179,715,000 after purchasing an additional 602,976 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of McDonald's by 43,591.6% during the 4th quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant's stock worth $171,241,000 after purchasing an additional 589,359 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald's Trading Up 1.0 %

NYSE:MCD traded up $3.06 during trading hours on Friday, hitting $309.84. The company's stock had a trading volume of 4,439,602 shares, compared to its average volume of 3,587,257. McDonald's Co. has a 52-week low of $243.53 and a 52-week high of $326.32. The stock has a market capitalization of $221.37 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The stock has a fifty day moving average of $306.10 and a 200-day moving average of $299.00.

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

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. 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 2.29%. McDonald's's payout ratio is currently 62.16%.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 300 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares of the company's stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the transaction, the executive vice president now owns 5,564 shares of the company's stock, valued at $1,720,778.28. This represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,497 shares of company stock worth $8,461,400. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. KeyCorp upped their target price on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Truist Financial decreased their price objective on shares of McDonald's from $342.00 to $340.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. TD Securities reiterated a "hold" rating and issued a $300.00 target price on shares of McDonald's in a report on Monday, February 10th. Erste Group Bank upgraded McDonald's from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Citigroup dropped their price objective on McDonald's from $360.00 to $353.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $322.87.

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.