Magellan Asset Management Ltd Has $2.91 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Magellan Asset Management Ltd cut its holdings in McDonald’s Co. (NYSE:MCD) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MCD. Norges Bank bought a new stake in shares of McDonald’s during the fourth quarter worth about $2,725,190,000. Raymond James Financial Inc. purchased a new stake in McDonald’s during the fourth quarter worth about $703,074,000. Franklin Resources Inc. raised its holdings in shares of McDonald’s by 24.4% in the 4th quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant’s stock worth $1,175,326,000 after purchasing an additional 794,536 shares during the period. Proficio Capital Partners LLC lifted its position 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 valued at $171,241,000 after buying an additional 589,359 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of McDonald’s by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,497 shares of company stock valued at $8,461,400 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Down 0.6 %

NYSE:MCD opened at $311.69 on Thursday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The firm has a market capitalization of $222.69 billion, a PE ratio of 27.37, a PEG ratio of 3.10 and a beta of 0.71. The firm’s fifty day simple moving average is $303.38 and its 200 day simple moving average is $298.56.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) 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 anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 2.27%. The ex-dividend date was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MCD shares. JPMorgan Chase & Co. lifted their price target on McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Morgan Stanley dropped their target price on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Piper Sandler lowered their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Barclays raised their price target on McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, BMO Capital Markets increased their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Company 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.