US Asset Management LLC Decreases Stake in McDonald’s Co. (NYSE:MCD)

US Asset Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,935 shares of the fast-food giant’s stock after selling 134 shares during the quarter. US Asset Management LLC’s holdings in McDonald’s were worth $851,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCD. Northeast Financial Consultants Inc lifted its holdings in shares of McDonald’s by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock valued at $2,170,000 after acquiring an additional 34 shares in the last quarter. Pettee Investors Inc. raised its position in McDonald’s by 0.7% in the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after purchasing an additional 35 shares during the period. Covestor Ltd lifted its stake in shares of McDonald’s by 4.1% during the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock worth $261,000 after purchasing an additional 35 shares in the last quarter. Independent Wealth Network Inc. boosted its position in shares of McDonald’s by 5.1% in the fourth quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock worth $213,000 after buying an additional 36 shares during the period. Finally, Blue Barn Wealth LLC grew its stake in shares of McDonald’s by 4.3% in the fourth quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock valued at $252,000 after buying an additional 36 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCD shares. Citigroup boosted their price target on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. KeyCorp upped their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Finally, Barclays upped their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Eleven 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 company. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $325.91.

McDonald’s Trading Down 0.7%

Shares of MCD opened at $314.28 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The firm has a market cap of $224.72 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 3.10 and a beta of 0.57. The stock has a 50 day moving average of $311.46 and a 200-day moving average of $301.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same period last year, the business posted $2.70 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s payout ratio is currently 62.49%.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total value of $299,071.50. Following the transaction, the insider now owns 12,100 shares of the company’s stock, valued at $3,853,850. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Manuel Jm Steijaert sold 10,459 shares of McDonald’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $308.71, for a total value of $3,228,797.89. Following the completion of the transaction, the executive vice president now owns 4,606 shares of the company’s stock, valued at approximately $1,421,918.26. The trade was a 69.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,337 shares of company stock valued at $4,123,534. Company insiders own 0.25% of the company’s stock.

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.