Intact Investment Management Inc. Trims Stake in McDonald’s Co. (NYSE:MCD)

Intact Investment Management Inc. decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 34.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,000 shares of the fast-food giant’s stock after selling 13,500 shares during the period. Intact Investment Management Inc.’s holdings in McDonald’s were worth $7,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its stake in shares of McDonald’s by 51.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after buying an additional 42 shares during the last quarter. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald’s in the 3rd quarter worth approximately $33,000. Keener Financial Planning LLC purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $39,000. Bear Mountain Capital Inc. purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $43,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of McDonald’s in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.9 %

McDonald’s stock traded down $2.51 during trading on Friday, reaching $273.09. The company had a trading volume of 3,636,458 shares, compared to its average volume of 3,338,426. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The firm’s 50-day simple moving average is $281.68 and its 200 day simple moving average is $281.53. The firm has a market capitalization of $196.90 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 3.01 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its 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. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the firm earned $2.59 EPS. McDonald’s’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts predict that McDonald’s Co. will post 12.34 earnings per share for the current year.

McDonald’s Announces Dividend

The firm 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 2.45%. McDonald’s’s payout ratio is presently 57.74%.

Analysts Set New Price Targets

Several analysts recently weighed in on MCD shares. Citigroup cut their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Truist Financial cut their target price on McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. UBS Group cut their target price on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Barclays cut their target price on McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Finally, Bank of America increased their target price on McDonald’s from $291.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.41.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

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.