Allstate Corp Lowers Holdings in McDonald’s Co. (NYSE:MCD)

Allstate Corp trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 13.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,175 shares of the fast-food giant’s stock after selling 330 shares during the period. Allstate Corp’s holdings in McDonald’s were worth $645,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MCD. Signature Resources Capital Management LLC purchased a new position in shares of McDonald’s during the fourth quarter worth $31,000. Spartan Planning & Wealth Management purchased a new position in shares of McDonald’s during the third quarter worth $33,000. Keener Financial Planning LLC purchased a new position in shares of McDonald’s during the fourth quarter worth $39,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McDonald’s during the fourth quarter worth $39,000. Finally, Bear Mountain Capital Inc. purchased a new position in shares of McDonald’s during the fourth quarter worth $43,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating and issued a $305.00 target price on shares of McDonald’s in a report on Monday. Guggenheim cut their price target on McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Stephens restated an “overweight” rating and issued a $320.00 price target on shares of McDonald’s in a research note on Monday, February 5th. Barclays cut their price target on McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Finally, BMO Capital Markets cut their price target on McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $317.74.

McDonald’s Trading Down 1.9 %

Shares of NYSE:MCD traded down $5.12 during trading on Thursday, hitting $260.65. 2,260,750 shares of the stock were exchanged, compared to its average volume of 3,264,757. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39. The company has a market cap of $187.85 billion, a PE ratio of 22.23, a P/E/G ratio of 3.00 and a beta of 0.71. The company has a fifty day moving average price of $273.69 and a two-hundred day moving average price of $283.52.

McDonald’s (NYSE:MCD) last issued 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). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the firm earned $2.63 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts anticipate that McDonald’s Co. will post 12.17 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.56%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. In the last three months, insiders sold 2,997 shares of company stock worth $836,300. Insiders own 0.23% of the company’s stock.

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.