McDonald’s Co. (NYSE:MCD) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd decreased its holdings in McDonald’s Co. (NYSE:MCD) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 710,490 shares of the fast-food giant’s stock after selling 84,915 shares during the period. McDonald’s makes up approximately 2.1% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 21st largest position. Magellan Asset Management Ltd’s holdings in McDonald’s were worth $210,667,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Independent Wealth Network Inc. increased its position in shares of McDonald’s by 4.2% in the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after acquiring an additional 35 shares in the last quarter. Paragon Capital Management Ltd lifted its stake in McDonald’s by 2.7% in the fourth quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after acquiring an additional 36 shares during the last quarter. Mechanics Financial Corp lifted its stake in McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after acquiring an additional 36 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in shares of McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after buying an additional 36 shares during the last quarter. Finally, Unique Wealth LLC lifted its stake in shares of McDonald’s by 1.2% in the fourth quarter. Unique Wealth LLC now owns 3,249 shares of the fast-food giant’s stock worth $963,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,096 shares of company stock valued at $1,127,678. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of MCD traded up $0.73 during mid-day trading on Thursday, hitting $260.72. 3,296,840 shares of the company’s stock were exchanged, compared to its average volume of 3,374,825. The company has a market cap of $187.90 billion, a PE ratio of 22.13, a P/E/G ratio of 2.96 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The company has a 50-day simple moving average of $268.43 and a 200 day simple moving average of $282.44.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. McDonald’s’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 earnings per share. On average, analysts anticipate that McDonald’s Co. will post 12.17 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $1.67 dividend. The ex-dividend date is Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.56%. McDonald’s’s dividend payout ratio is presently 56.71%.

Analyst Ratings Changes

Several research firms recently commented on MCD. Morgan Stanley cut their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. KeyCorp lowered their target price on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets lowered their target price on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Guggenheim decreased their price objective on shares of McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $316.15.

McDonald’s Profile

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.