Westchester Capital Management Inc. Has $14.89 Million Position in McDonald’s Co. (NYSE:MCD)

Westchester Capital Management Inc. lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 51,363 shares of the fast-food giant’s stock after selling 1,145 shares during the quarter. McDonald’s comprises 3.7% of Westchester Capital Management Inc.’s holdings, making the stock its 12th largest holding. Westchester Capital Management Inc.’s holdings in McDonald’s were worth $14,890,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MCD. Truvestments Capital LLC grew its holdings in shares of McDonald’s by 9.4% during the fourth quarter. Truvestments Capital LLC now owns 617 shares of the fast-food giant’s stock worth $179,000 after buying an additional 53 shares in the last quarter. Austin Wealth Management LLC grew its holdings in shares of McDonald’s by 15.5% during the fourth quarter. Austin Wealth Management LLC now owns 885 shares of the fast-food giant’s stock worth $249,000 after buying an additional 119 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of McDonald’s during the fourth quarter worth about $182,000. Smart Portfolios LLC grew its stake in McDonald’s by 40.2% in the fourth quarter. Smart Portfolios LLC now owns 2,443 shares of the fast-food giant’s stock valued at $708,000 after purchasing an additional 700 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in McDonald’s by 3.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 8,821 shares of the fast-food giant’s stock valued at $2,557,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 3.3 %

Shares of MCD opened at $306.65 on Wednesday. The company has a market cap of $219.09 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The stock has a 50-day moving average price of $296.57 and a 200-day moving average price of $296.68. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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 negative return on equity of 181.63% and a net margin of 31.73%. As a group, analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s payout ratio is 62.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MCD. Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Bank of America lifted their target price on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. KeyCorp lifted their target price on McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Wedbush boosted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares in the company, valued at $2,383,235.70. The trade was a 11.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the transaction, the executive vice president now directly owns 5,564 shares in the company, valued at $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,504 shares of company stock worth $10,206,575 in the last quarter. 0.23% of the stock is owned by insiders.

About McDonald’s

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.