Magellan Asset Management Ltd Reduces Position in McDonald's Co. (NYSE:MCD)

Magellan Asset Management Ltd lowered its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,051 shares of the fast-food giant's stock after selling 1,817 shares during the period. Magellan Asset Management Ltd's holdings in McDonald's were worth $2,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of McDonald's in the fourth quarter worth about $2,725,190,000. Raymond James Financial Inc. purchased a new position in McDonald's during the fourth quarter valued at approximately $703,074,000. Franklin Resources Inc. grew its position in shares of McDonald's by 24.4% during the 4th 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 in the last quarter. Proficio Capital Partners LLC raised its position in shares of McDonald's by 43,591.6% in the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant's stock worth $171,241,000 after buying an additional 589,359 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in McDonald's by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock valued at $20,341,391,000 after buying an additional 526,466 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald's Trading Down 5.8 %

MCD traded down $18.59 on Friday, reaching $299.68. The stock had a trading volume of 8,828,016 shares, compared to its average volume of 3,526,008. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company has a market cap of $214.11 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. The business's 50-day moving average price is $304.34 and its two-hundred day moving average price is $298.75.

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McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, analysts predict that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald's's dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

MCD has been the topic of a number of recent research reports. Loop Capital reiterated a "buy" rating and set a $342.00 price target on shares of McDonald's in a research report on Friday, January 3rd. BMO Capital Markets upped their price objective on shares of McDonald's from $335.00 to $340.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Morgan Stanley lowered their price target on shares of McDonald's from $340.00 to $335.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Truist Financial cut their price target on McDonald's from $342.00 to $340.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup dropped their price target on shares of McDonald's from $360.00 to $353.00 and set a "buy" rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $323.30.

Insider Activity

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the transaction, the executive vice president now directly owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,497 shares of company stock valued at $8,461,400. 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.