Woodstock Corp Has $5.25 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Posted by Max Byerly on Mar 18th, 2023

Woodstock Corp trimmed its stake in McDonald’s Co. (NYSE:MCD – Get Rating) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,932 shares of the fast-food giant’s stock after selling 186 shares during the quarter. Woodstock Corp’s holdings in McDonald’s were worth $5,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of McDonald’s by 0.5% in the third quarter. Vanguard Group Inc. now owns 67,570,353 shares of the fast-food giant’s stock worth $15,591,183,000 after purchasing an additional 333,884 shares in the last quarter. State Street Corp raised its position in McDonald’s by 1.1% during the third quarter. State Street Corp now owns 34,704,308 shares of the fast-food giant’s stock valued at $8,007,672,000 after acquiring an additional 365,601 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in McDonald’s by 16.3% during the third quarter. Price T Rowe Associates Inc. MD now owns 7,869,149 shares of the fast-food giant’s stock valued at $1,816,219,000 after acquiring an additional 1,105,231 shares in the last quarter. Legal & General Group Plc raised its position in McDonald’s by 3.0% during the second quarter. Legal & General Group Plc now owns 5,268,161 shares of the fast-food giant’s stock valued at $1,300,604,000 after acquiring an additional 154,981 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in McDonald’s by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,117,531 shares of the fast-food giant’s stock valued at $1,265,463,000 after acquiring an additional 108,282 shares in the last quarter. 66.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Credit Suisse Group raised their price objective on shares of McDonald’s from $298.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Royal Bank of Canada dropped their price target on shares of McDonald’s from $296.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of McDonald’s in a research report on Wednesday, February 1st. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $250.00 to $262.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Finally, Tigress Financial lifted their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $288.80.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 3,850 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $267.69, for a total transaction of $1,030,606.50. Following the completion of the sale, the chief executive officer now directly owns 34,637 shares of the company’s stock, valued at approximately $9,271,978.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,396 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $265.44, for a total transaction of $370,554.24. Following the completion of the sale, the executive vice president now directly owns 308 shares of the company’s stock, valued at approximately $81,755.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 3,850 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $267.69, for a total value of $1,030,606.50. Following the sale, the chief executive officer now directly owns 34,637 shares of the company’s stock, valued at $9,271,978.53. The disclosure for this sale can be found here. Insiders sold 8,122 shares of company stock valued at $2,177,681 over the last ninety days. 0.25% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $267.20 on Friday. McDonald’s Co. has a 52 week low of $228.34 and a 52 week high of $281.67. The company’s fifty day moving average is $267.15 and its 200-day moving average is $262.86. The company has a market capitalization of $195.46 billion, a PE ratio of 32.00, a P/E/G ratio of 3.13 and a beta of 0.62.

McDonald’s (NYSE:MCD – Get Rating) last issued its earnings results on Tuesday, January 31st. The fast-food giant reported $2.59 EPS for the quarter, beating the consensus estimate of $2.46 by $0.13. McDonald’s had a net margin of 26.65% and a negative return on equity of 120.10%. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the previous year, the company earned $2.23 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts forecast that McDonald’s Co. will post 10.51 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $1.52 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.28%. McDonald’s’s dividend payout ratio is 72.81%.

About McDonald’s

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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.