Macquarie Group Ltd. Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 31.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,508 shares of the fast-food giant’s stock after selling 17,902 shares during the period. Macquarie Group Ltd.’s holdings in McDonald’s were worth $9,116,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MCD. West Financial Advisors LLC increased its stake in shares of McDonald’s by 520.0% during the 3rd quarter. West Financial Advisors LLC now owns 124 shares of the fast-food giant’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. WD Rutherford LLC purchased a new position in shares of McDonald’s during the 3rd quarter worth approximately $36,000. Cowa LLC purchased a new position in shares of McDonald’s during the 3rd quarter worth approximately $39,000. McClarren Financial Advisors Inc. purchased a new position in shares of McDonald’s during the 3rd quarter worth approximately $43,000. Finally, Standard Family Office LLC acquired a new stake in McDonald’s during the third quarter worth approximately $48,000. 66.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCD has been the topic of a number of analyst reports. Morgan Stanley raised their target price on shares of McDonald’s from $285.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. Citigroup decreased their target price on shares of McDonald’s from $279.00 to $277.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 1st. Barclays lifted their price target on shares of McDonald’s from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, January 5th. Stifel Nicolaus lifted their price target on shares of McDonald’s from $260.00 to $270.00 and gave the company a “hold” rating in a report on Monday, January 30th. Finally, Royal Bank of Canada decreased their price target on shares of McDonald’s from $296.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Six analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $288.41.

McDonald’s Stock Performance

NYSE MCD opened at $270.64 on Tuesday. The company has a 50-day simple moving average of $267.03 and a 200-day simple moving average of $262.67. The firm has a market capitalization of $197.97 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 3.16 and a beta of 0.62. McDonald’s Co. has a one year low of $217.68 and a one year high of $281.67.

McDonald’s (NYSE:MCD – Get Rating) last posted its earnings results on Tuesday, January 31st. The fast-food giant reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.13. The firm had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.75 billion. McDonald’s had a net margin of 26.65% and a negative return on equity of 120.10%. McDonald’s’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 EPS. Equities analysts forecast that McDonald’s Co. will post 10.53 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, February 28th. McDonald’s’s dividend payout ratio is currently 72.81%.

Insider Transactions at McDonald’s

In related news, SVP Catherine A. Hoovel sold 2,876 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $270.00, for a total value of $776,520.00. Following the sale, the senior vice president now directly owns 1,184 shares in the company, valued at approximately $319,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Catherine A. Hoovel sold 2,876 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $270.00, for a total transaction of $776,520.00. Following the sale, the senior vice president now owns 1,184 shares in the company, valued at $319,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 3,850 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $267.69, for a total transaction of $1,030,606.50. Following the sale, the chief executive officer now owns 34,637 shares in the company, valued at approximately $9,271,978.53. The disclosure for this sale can be found here. In the last three months, insiders sold 8,122 shares of company stock valued at $2,177,681. Company insiders own 0.18% of the company’s stock.

McDonald’s Profile

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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.