Colonial River Investments LLC Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Colonial River Investments LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,300 shares of the fast-food giant’s stock after selling 160 shares during the quarter. Colonial River Investments LLC’s holdings in McDonald’s were worth $667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mattern Capital Management LLC grew its holdings in shares of McDonald’s by 2.0% during the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock worth $8,729,000 after purchasing an additional 579 shares in the last quarter. Bell Bank grew its holdings in shares of McDonald’s by 3.0% during the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock worth $3,681,000 after purchasing an additional 371 shares in the last quarter. Kennebec Savings Bank purchased a new stake in McDonald’s in the third quarter worth approximately $1,394,000. YANKCOM Partnership purchased a new stake in McDonald’s in the fourth quarter worth approximately $1,628,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.6 %

Shares of MCD stock opened at $304.76 on Monday. The stock has a market cap of $218.40 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 3.10 and a beta of 0.74. The business’s fifty day moving average is $292.61 and its 200 day moving average is $294.10. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last issued 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 negative return on equity of 181.63% and a net margin of 31.73%. Equities research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 3,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the sale, the chief marketing officer now directly owns 9,858 shares of the company’s stock, valued at $2,964,892.08. This trade represents a 24.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,099 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.60, for a total value of $334,755.40. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $475,176. This trade represents a 41.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,106 shares of company stock valued at $6,382,112. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup upped their target price on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Bank of America upped 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. Piper Sandler cut their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. upped their target price on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

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.