Bank of Hawaii Reduces Stake in McDonald’s Co. (NYSE:MCD)

Bank of Hawaii cut its stake in McDonald’s Co. (NYSE:MCD) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 188,762 shares of the fast-food giant’s stock after selling 6,612 shares during the period. McDonald’s accounts for approximately 3.0% of Bank of Hawaii’s investment portfolio, making the stock its 9th biggest holding. Bank of Hawaii’s holdings in McDonald’s were worth $54,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew 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 valued at $20,341,391,000 after acquiring an additional 526,466 shares in the last quarter. Geode Capital Management LLC grew its stake in McDonald’s by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock worth $4,652,768,000 after buying an additional 157,458 shares in the last quarter. Norges Bank acquired a new stake in McDonald’s during the fourth quarter worth about $2,725,190,000. Bank of New York Mellon Corp grew its stake in McDonald’s by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock worth $1,682,473,000 after buying an additional 52,195 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in McDonald’s by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,694,202 shares of the fast-food giant’s stock worth $1,650,692,000 after buying an additional 129,843 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $305.00, for a total value of $286,395.00. Following the sale, the insider now directly owns 13,978 shares in the company, valued at approximately $4,263,290. The trade was a 6.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23 % 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 worth $8,461,400 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCD. KeyCorp increased their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Truist Financial dropped their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Morgan Stanley dropped their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Barclays increased their target price on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $322.87.

McDonald’s Trading Up 1.4 %

NYSE MCD opened at $304.01 on Thursday. The company has a fifty day simple moving average of $305.38 and a 200 day simple moving average of $298.93. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company has a market cap of $217.20 billion, a P/E ratio of 26.69, a PEG ratio of 3.10 and a beta of 0.62.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Sell-side analysts predict that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company 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. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio is 62.16%.

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.