Latitude Advisors LLC Sells 637 Shares of McDonald’s Co. (NYSE:MCD)

Latitude Advisors LLC decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 24.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,971 shares of the fast-food giant’s stock after selling 637 shares during the quarter. Latitude Advisors LLC’s holdings in McDonald’s were worth $571,000 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. Sovran Advisors LLC bought a new stake in shares of McDonald’s in the 4th quarter worth $520,000. Stonebridge Financial Group LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at $4,825,000. Essex Financial Services Inc. increased its holdings in McDonald’s by 5.4% in the 4th quarter. Essex Financial Services Inc. now owns 13,415 shares of the fast-food giant’s stock worth $3,889,000 after buying an additional 683 shares in the last quarter. First Fiduciary Investment Counsel Inc. raised its position in McDonald’s by 81.9% in the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 34,457 shares of the fast-food giant’s stock worth $9,989,000 after buying an additional 15,518 shares during the last quarter. Finally, Pachira Investments Inc. boosted its holdings in shares of McDonald’s by 10.4% during the 4th quarter. Pachira Investments Inc. now owns 830 shares of the fast-food giant’s stock valued at $240,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCD shares. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Piper Sandler lowered their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Barclays upped 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. Finally, TD Cowen reissued a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $319.13.

McDonald’s Trading Up 4.7 %

NYSE:MCD opened at $308.22 on Tuesday. The business’s 50-day moving average is $290.70 and its 200 day moving average is $291.16. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market capitalization of $220.88 billion, a P/E ratio of 27.06, a P/E/G ratio of 4.08 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. On average, research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s payout ratio is currently 62.16%.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the sale, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock worth $2,150,857 in the last three months. Insiders own 0.23% of the company’s stock.

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, Russia, Spain, and the U.K.