Bahl & Gaynor Inc. Sells 38,145 Shares of McDonald’s Co. (NYSE:MCD)

Bahl & Gaynor Inc. cut its holdings in McDonald’s Co. (NYSE:MCD) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,122,535 shares of the fast-food giant’s stock after selling 38,145 shares during the quarter. McDonald’s accounts for approximately 2.0% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 14th largest position. Bahl & Gaynor Inc. owned 0.15% of McDonald’s worth $332,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC grew its holdings in shares of McDonald’s by 51.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of McDonald’s in the third quarter valued at $33,000. Keener Financial Planning LLC purchased a new position in McDonald’s during the fourth quarter worth $39,000. Bear Mountain Capital Inc. purchased a new position in McDonald’s during the fourth quarter worth $43,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in McDonald’s during the third quarter worth $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $273.12 on Friday. The company has a market capitalization of $196.92 billion, a PE ratio of 23.61, a P/E/G ratio of 3.01 and a beta of 0.71. The company has a 50-day simple moving average of $281.68 and a two-hundred day simple moving average of $281.53. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that McDonald’s Co. will post 12.34 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.45%. McDonald’s’s payout ratio is 57.74%.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MCD shares. Royal Bank of Canada dropped their price objective on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Bank of America lifted their price objective on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Wedbush lowered their target price on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial lowered their target price on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Robert W. Baird reissued an “outperform” rating and set a $315.00 target price on shares of McDonald’s in a research note on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $318.41.

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.