Amalgamated Bank Sells 1,816 Shares of McDonald’s Co. (NYSE:MCD)

Amalgamated Bank lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,839 shares of the fast-food giant’s stock after selling 1,816 shares during the quarter. Amalgamated Bank’s holdings in McDonald’s were worth $40,828,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its position in McDonald’s by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after acquiring an additional 220,365 shares in the last quarter. Wellington Management Group LLP boosted its position in McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares in the last quarter. Bank of New York Mellon Corp boosted its position in McDonald’s by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after acquiring an additional 52,195 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of McDonald’s by 0.9% in the 3rd 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 purchasing an additional 49,106 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after purchasing an additional 19,867 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial lowered their price objective on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley raised their target price on McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Citigroup raised 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. Piper Sandler reduced 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, Wedbush raised their target price on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $307.34 on Tuesday. The stock has a market cap of $220.24 billion, a P/E ratio of 26.98, a P/E/G ratio of 3.10 and a beta of 0.74. The stock’s 50 day simple moving average is $292.80 and its 200-day simple moving average is $294.35. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last issued its 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%. As a group, research analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

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 issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Activity

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the sale, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,106 shares of company stock valued at $6,382,112. 0.23% of the stock is currently owned by company insiders.

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.