Allspring Global Investments Holdings LLC Buys 47,209 Shares of McDonald’s Co. (NYSE:MCD)

Allspring Global Investments Holdings LLC raised its stake in McDonald’s Co. (NYSE:MCD) by 33.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 188,016 shares of the fast-food giant’s stock after buying an additional 47,209 shares during the period. Allspring Global Investments Holdings LLC’s holdings in McDonald’s were worth $54,997,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at about $25,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of McDonald’s in the 4th quarter valued at about $27,000. Collier Financial acquired a new position in shares of McDonald’s in the 4th quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at about $31,000. Finally, Hara Capital LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at about $44,000. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Truist Financial dropped their price objective on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday. BMO Capital Markets upped their price target on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday. Loop Capital reaffirmed a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Finally, Citigroup upped their price target on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.61.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % 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, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,906 shares of company stock valued at $5,406,382. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.8 %

MCD stock opened at $309.99 on Friday. The firm has a market cap of $222.15 billion, a PE ratio of 27.22, a P/E/G ratio of 4.08 and a beta of 0.74. The business has a 50 day moving average of $291.58 and a 200-day moving average of $292.08. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last released its 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 negative return on equity of 175.42% and a net margin of 31.79%. On average, research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Announces Dividend

The company 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 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

McDonald’s 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, Russia, Spain, and the U.K.