Bruce G. Allen Investments LLC Lowers Holdings in McDonald’s Co. (NYSE:MCD)

Bruce G. Allen Investments LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,117 shares of the fast-food giant’s stock after selling 51 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in McDonald’s were worth $349,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of McDonald’s by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after purchasing an additional 526,466 shares during the period. Geode Capital Management LLC increased its holdings in shares of McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after purchasing an additional 157,458 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of McDonald’s by 5.2% in the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant’s stock valued at $3,088,037,000 after purchasing an additional 531,070 shares during the period. Norges Bank purchased a new stake in McDonald’s during the fourth quarter worth $2,725,190,000. Finally, Northern Trust Corp boosted its holdings in McDonald’s by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after buying an additional 895,896 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at $3,516,496.27. The trade was a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

McDonald’s Stock Performance

NYSE MCD opened at $307.44 on Monday. The business has a fifty day moving average price of $312.29 and a 200 day moving average price of $302.76. The company has a market cap of $219.83 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.70 earnings per share. As a group, sell-side analysts predict that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.30%. McDonald’s’s dividend payout ratio is presently 62.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Erste Group Bank cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Piper Sandler raised their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. TD Securities restated a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a research note on Thursday. Citigroup upped their price target on McDonald’s from $353.00 to $364.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Barclays raised their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Fourteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.48.

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.