McDonald’s Co. (NYSE:MCD) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,670 shares of the fast-food giant’s stock after selling 2,020 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in McDonald’s were worth $5,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Vanguard Group Inc. grew its holdings 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 purchasing an additional 526,466 shares during the period. Geode Capital Management LLC grew its stake in shares of McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after buying an additional 157,458 shares during the period. Capital Research Global Investors raised its position in shares of McDonald’s by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock worth $3,088,037,000 after buying an additional 531,070 shares during the period. Norges Bank acquired a new position in McDonald’s in the fourth quarter valued at $2,725,190,000. Finally, Bank of New York Mellon Corp increased 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 acquiring an additional 52,195 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MCD shares. KeyCorp boosted their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Barclays lifted their target price on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Loop Capital reissued a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research report on Friday, January 3rd. Truist Financial lowered their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Citigroup decreased their price target on McDonald’s from $360.00 to $353.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $322.87.

McDonald’s Trading Down 0.7 %

Shares of McDonald’s stock opened at $309.25 on Tuesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32. The stock has a market capitalization of $220.95 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 3.10 and a beta of 0.62. The business’s 50 day simple moving average is $307.41 and its 200-day simple moving average is $299.33.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (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%. Sell-side analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 27,497 shares of company stock worth $8,461,400. 0.23% of the stock is owned by company insiders.

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.