Resonant Capital Advisors LLC Lowers Position in McDonald’s Co. (NYSE:MCD)

Resonant Capital Advisors LLC reduced its stake in McDonald’s Co. (NYSE:MCD) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,057 shares of the fast-food giant’s stock after selling 613 shares during the quarter. Resonant Capital Advisors LLC’s holdings in McDonald’s were worth $3,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Vanguard Group Inc. increased its position in shares of McDonald’s by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 68,449,565 shares of the fast-food giant’s stock valued at $18,032,353,000 after purchasing an additional 262,147 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of McDonald’s by 106,340.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after purchasing an additional 19,217,818 shares during the last quarter. Northern Trust Corp increased its position in shares of McDonald’s by 1.7% during the 3rd quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock valued at $2,423,773,000 after purchasing an additional 151,161 shares during the last quarter. Norges Bank purchased a new stake in shares of McDonald’s during the 4th quarter valued at $2,341,360,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of McDonald’s by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,390,035 shares of the fast-food giant’s stock valued at $1,401,570,000 after purchasing an additional 237,532 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.4 %

Shares of NYSE MCD traded up $1.06 during trading hours on Friday, reaching $272.04. 1,845,225 shares of the stock traded hands, compared to its average volume of 3,229,511. The company has a market capitalization of $196.14 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.97 and a beta of 0.71. McDonald’s Co. has a 52-week low of $245.73 and a 52-week high of $302.39. The company’s 50-day simple moving average is $283.44 and its two-hundred day simple moving average is $280.62.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 EPS. As a group, sell-side analysts forecast that McDonald’s Co. will post 12.33 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $1.67 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a yield of 2.46%. McDonald’s’s dividend payout ratio (DPR) is currently 57.74%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $330.00 target price on shares of McDonald’s in a research report on Wednesday, March 27th. Argus reiterated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. StockNews.com downgraded McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Truist Financial cut their price target on McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada cut their price target on McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $319.72.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.