Consolidated Planning Corp lowered its stake in McDonald’s Co. (NYSE:MCD – Free Report) by 6.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,599 shares of the fast-food giant’s stock after selling 188 shares during the quarter. Consolidated Planning Corp’s holdings in McDonald’s were worth $753,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after acquiring an additional 220,365 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of McDonald’s by 0.9% in the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after acquiring an additional 128,800 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of McDonald’s by 0.7% in the third quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after acquiring an additional 19,867 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.
McDonald’s Stock Down 0.9 %
Shares of MCD stock opened at $307.47 on Thursday. The company has a market cap of $220.34 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a 50 day moving average of $291.33 and a 200-day moving average of $291.97.
McDonald’s Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Monday, March 3rd. McDonald’s’s payout ratio is currently 62.16%.
Insider Activity at McDonald’s
In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,406 shares of company stock valued at $2,150,857. 0.23% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
MCD has been the subject of a number of research reports. Bank of America raised their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley raised their price objective on shares of McDonald’s from $336.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday. KeyCorp raised their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup raised their price objective on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.61.
Read Our Latest Analysis on MCD
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.
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