Conning Inc. Has $37.26 Million Holdings in McDonald’s Co. (NYSE:MCD)

Conning Inc. trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 128,531 shares of the fast-food giant’s stock after selling 3,966 shares during the period. McDonald’s accounts for approximately 1.3% of Conning Inc.’s portfolio, making the stock its 11th largest holding. Conning Inc.’s holdings in McDonald’s were worth $37,260,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its stake in McDonald’s by 6.7% in the third quarter. CWM LLC now owns 79,253 shares of the fast-food giant’s stock valued at $24,133,000 after buying an additional 4,987 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of McDonald’s by 8.5% in the 3rd quarter. Wedmont Private Capital now owns 5,615 shares of the fast-food giant’s stock valued at $1,689,000 after purchasing an additional 442 shares in the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of McDonald’s by 6.8% during the 3rd quarter. Quotient Wealth Partners LLC now owns 2,058 shares of the fast-food giant’s stock valued at $627,000 after purchasing an additional 131 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new position in McDonald’s during the 3rd quarter worth approximately $943,000. Finally, Albion Financial Group UT lifted its stake in McDonald’s by 4.1% in the 3rd quarter. Albion Financial Group UT now owns 29,984 shares of the fast-food giant’s stock valued at $9,131,000 after purchasing an additional 1,169 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction 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 completion of the sale, the insider now directly owns 8,187 shares of the company’s stock, 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. Insiders have sold 7,406 shares of company stock valued at $2,150,857 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research reports. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley dropped their target price on McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Citigroup boosted their price target on McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $318.86.

McDonald’s Stock Up 0.0 %

McDonald’s stock opened at $294.39 on Friday. The company has a market capitalization of $210.97 billion, a PE ratio of 25.85, a PEG ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm’s fifty day moving average is $290.73 and its 200 day moving average is $290.40.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.