Pitcairn Co. Trims Stock Position in McDonald’s Co. (NYSE:MCD)

Pitcairn Co. decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,407 shares of the fast-food giant’s stock after selling 144 shares during the quarter. Pitcairn Co.’s holdings in McDonald’s were worth $3,017,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in McDonald’s during the third quarter worth approximately $25,000. Atala Financial Inc purchased a new position in shares of McDonald’s during the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of McDonald’s in the 4th quarter valued at $27,000. Collier Financial acquired a new position in shares of McDonald’s in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC raised its position in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MCD shares. TD Securities reissued a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. Wedbush raised their price target on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Piper Sandler lowered their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.61.

Insider Activity

In related news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,497 shares of company stock worth $8,461,400 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.6 %

NYSE:MCD opened at $311.69 on Thursday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32. The company has a market capitalization of $222.69 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The firm has a 50-day moving average price of $303.38 and a two-hundred day moving average price of $298.56.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. On average, equities research analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.27%. 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, Spain, and the U.K.