Bessemer Group Inc. Sells 4,026 Shares of McDonald’s Co. (NYSE:MCD)

Bessemer Group Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 372,463 shares of the fast-food giant’s stock after selling 4,026 shares during the period. Bessemer Group Inc.’s holdings in McDonald’s were worth $105,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of McDonald’s in the 4th quarter worth $2,684,899,000. Gallagher Fiduciary Advisors LLC boosted its stake in shares of McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of McDonald’s by 10,702.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock worth $644,739,000 after buying an additional 2,154,297 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of McDonald’s by 552.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock worth $234,729,000 after buying an additional 670,261 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock traded down $0.68 during trading hours on Wednesday, hitting $253.37. The stock had a trading volume of 5,729,595 shares, compared to its average volume of 3,473,709. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The stock’s 50-day moving average price is $256.71 and its two-hundred day moving average price is $274.37. The stock has a market capitalization of $182.60 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.99 and a beta of 0.71.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period last year, the firm posted $2.63 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that McDonald’s Co. will post 12.13 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.64%. McDonald’s’s payout ratio is currently 56.71%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday. Bank of America lowered their target price on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Evercore ISI lowered their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. UBS Group lowered their target price on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Truist Financial lowered their target price on McDonald’s from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $308.57.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold 5,594 shares of company stock valued at $1,454,507 over the last ninety days. 0.23% of the stock is owned by insiders.

About McDonald’s

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.