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

Magellan Asset Management Ltd trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F 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.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of McDonald’s during the 4th quarter worth approximately $2,725,190,000. Raymond James Financial Inc. acquired a new stake in shares of McDonald’s in the 4th quarter valued at $703,074,000. Franklin Resources Inc. increased its stake 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 valued at $1,175,326,000 after purchasing an additional 794,536 shares during the last quarter. Proficio Capital Partners LLC raised its holdings 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 worth $171,241,000 after buying an additional 589,359 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in 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 valued at $20,341,391,000 after buying an additional 526,466 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 27,497 shares of company stock valued at $8,461,400. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD stock 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 stock has a market capitalization of $222.69 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The company’s 50-day moving average is $303.38 and its 200-day moving average is $298.56.

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

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.27%. McDonald’s’s payout ratio is 62.16%.

Wall Street Analyst Weigh In

MCD has been the subject of several research analyst reports. Piper Sandler lowered 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. Wedbush increased their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Robert W. Baird upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Bank of America increased their price target on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets upped their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s 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.