Wellington Management Group LLP Sells 1,066,324 Shares of McDonald’s Co. (NYSE:MCD)

Wellington Management Group LLP decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,016,570 shares of the fast-food giant’s stock after selling 1,066,324 shares during the quarter. McDonald’s comprises about 0.7% of Wellington Management Group LLP’s portfolio, making the stock its 20th biggest holding. Wellington Management Group LLP’s holdings in McDonald’s were worth $4,063,263,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Bank raised its holdings in shares of McDonald’s by 3.5% in the 3rd quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock valued at $1,963,000 after purchasing an additional 218 shares during the period. Fred Alger Management LLC raised its stake in McDonald’s by 4.4% in the third quarter. Fred Alger Management LLC now owns 18,331 shares of the fast-food giant’s stock valued at $5,582,000 after buying an additional 776 shares during the period. Tradition Wealth Management LLC lifted its position in shares of McDonald’s by 1.8% in the third quarter. Tradition Wealth Management LLC now owns 7,438 shares of the fast-food giant’s stock valued at $2,265,000 after buying an additional 132 shares during the last quarter. Cobblestone Capital Advisors LLC NY boosted its stake in shares of McDonald’s by 3.9% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 8,235 shares of the fast-food giant’s stock worth $2,508,000 after acquiring an additional 311 shares during the period. Finally, Plotkin Financial Advisors LLC acquired a new position in shares of McDonald’s during the 3rd quarter worth approximately $302,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Securities reaffirmed a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. Morgan Stanley cut their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Erste Group Bank upgraded shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Robert W. Baird raised their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Finally, Bank of America upped their target price on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given 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 $323.61.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were 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 directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the firm’s stock in a transaction on 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 directly owns 5,564 shares in the company, valued at approximately $1,720,778.28. This trade represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,996 shares of company stock worth $8,897,534 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of MCD opened at $306.95 on Monday. The firm has a 50 day simple moving average of $301.52 and a two-hundred day simple moving average of $298.20. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The company has a market cap of $219.31 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting 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 expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s payout ratio is currently 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.