McDonald’s Co. (NYSE:MCD) Stake Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 1.3% during the fourth quarter, HoldingsChannel reports. The fund owned 14,228 shares of the fast-food giant’s stock after selling 185 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in McDonald’s were worth $4,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of McDonald’s by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after buying an additional 220,365 shares during the last quarter. Wellington Management Group LLP raised its position in McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in McDonald’s by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after acquiring an additional 52,195 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of McDonald’s by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after purchasing an additional 19,867 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent research reports. BMO Capital Markets upped their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Bank of America increased their price objective on McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Piper Sandler reduced their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Robert W. Baird increased their price target on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

Insider Transactions at McDonald’s

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,504 shares of company stock valued at $10,206,575. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 0.6 %

MCD opened at $308.17 on Friday. The stock has a market cap of $220.18 billion, a PE ratio of 27.06, a P/E/G ratio of 3.10 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock’s 50 day simple moving average is $294.06 and its 200-day simple moving average is $295.27.

McDonald’s (NYSE:MCD) last announced 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%. Equities analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

McDonald’s Company 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.