Chevy Chase Trust Holdings LLC Sells 8,618 Shares of McDonald’s Co. (NYSE:MCD)

Chevy Chase Trust Holdings LLC cut its stake in McDonald’s Co. (NYSE:MCD) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 390,816 shares of the fast-food giant’s stock after selling 8,618 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in McDonald’s were worth $113,294,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kennebec Savings Bank bought a new position in shares of McDonald’s in the third quarter worth about $1,394,000. YANKCOM Partnership bought a new position in shares of McDonald’s in the fourth quarter worth about $1,628,000. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 49,106 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the last quarter. Finally, PFW Advisors LLC purchased a new stake in McDonald’s in the fourth quarter worth about $2,471,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Up 0.8 %

MCD stock opened at $309.99 on Friday. The firm has a 50 day moving average of $291.58 and a 200 day moving average of $292.08. The stock has a market capitalization of $222.15 billion, a PE ratio of 27.22, 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.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. On average, equities research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

A number of research firms recently weighed in on MCD. Truist Financial lowered their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays upped their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. TD Securities reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.61.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,906 shares of company stock valued at $5,406,382. 0.23% of the stock is owned by insiders.

McDonald’s Company 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.