MetLife Investment Management LLC Reduces Position in McDonald’s Co. (NYSE:MCD)

MetLife Investment Management LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 188,690 shares of the fast-food giant’s stock after selling 5,680 shares during the period. MetLife Investment Management LLC’s holdings in McDonald’s were worth $57,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald’s during the third quarter valued at about $31,000. CreativeOne Wealth LLC increased its position in McDonald’s by 0.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 10,374 shares of the fast-food giant’s stock valued at $3,159,000 after buying an additional 68 shares in the last quarter. BNP Paribas raised its stake in McDonald’s by 0.9% during the third quarter. BNP Paribas now owns 22,053 shares of the fast-food giant’s stock valued at $6,715,000 after buying an additional 201 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in McDonald’s during the third quarter valued at $5,555,000. Finally, Glenmede Trust Co. NA boosted its stake in McDonald’s by 2.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 343,306 shares of the fast-food giant’s stock worth $104,540,000 after purchasing an additional 8,131 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MCD. 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 report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Tigress Financial upped their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial reduced their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Stock Up 0.1 %

NYSE:MCD opened at $296.62 on Wednesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The business’s 50-day simple moving average is $299.90 and its two-hundred day simple moving average is $278.55. The stock has a market cap of $212.56 billion, a PE ratio of 26.01, a P/E/G ratio of 3.94 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is 58.65%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. The trade was a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,597 shares of company stock worth $10,702,754. 0.23% of the stock is currently owned by insiders.

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.