Cary Street Partners Asset Management LLC Has $529,000 Position in McDonald’s Co. (NYSE:MCD)

Cary Street Partners Asset Management LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 30.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,784 shares of the fast-food giant’s stock after selling 791 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in McDonald’s were worth $529,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in McDonald’s by 10,702.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after buying an additional 2,154,297 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in McDonald’s in the 3rd quarter valued at $192,165,000. AMF Tjanstepension AB grew its holdings in McDonald’s by 174.7% in the 3rd quarter. AMF Tjanstepension AB now owns 947,653 shares of the fast-food giant’s stock valued at $249,693,000 after buying an additional 602,707 shares in the last quarter. Barclays PLC grew its holdings in McDonald’s by 16.7% in the 3rd quarter. Barclays PLC now owns 2,997,877 shares of the fast-food giant’s stock valued at $789,762,000 after buying an additional 429,000 shares in the last quarter. Finally, Winslow Capital Management LLC grew its holdings in McDonald’s by 39.6% in the 3rd quarter. Winslow Capital Management LLC now owns 1,306,329 shares of the fast-food giant’s stock valued at $344,139,000 after buying an additional 370,699 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $274.35 on Thursday. The stock has a market cap of $197.81 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The stock has a fifty day moving average of $280.53 and a 200-day moving average of $282.27.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. McDonald’s’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 EPS. On average, sell-side analysts predict that McDonald’s Co. will post 12.34 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio is 56.71%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCD. UBS Group cut their target price on McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. BMO Capital Markets cut their target price on McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial dropped their price objective on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Oppenheimer restated a “market perform” rating on shares of McDonald’s in a research report on Friday, January 5th. Finally, Morgan Stanley lowered their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $317.37.

McDonald’s 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.