Fisher Asset Management LLC Sells 1,962 Shares of McDonald’s Co. (NYSE:MCD)

Fisher Asset Management LLC decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 6.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 29,908 shares of the fast-food giant’s stock after selling 1,962 shares during the period. Fisher Asset Management LLC’s holdings in McDonald’s were worth $8,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Blue Bell Private Wealth Management LLC increased its stake in shares of McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald’s in the third quarter worth $33,000. Keener Financial Planning LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $39,000. Bear Mountain Capital Inc. purchased a new position in shares of McDonald’s in the 4th quarter worth about $43,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in McDonald’s during the 3rd quarter valued at about $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCD. Morgan Stanley dropped their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. BTIG Research cut shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Bank of America increased their price objective on shares of McDonald’s from $291.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Truist Financial decreased their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Argus restated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $317.74.

McDonald’s Price Performance

NYSE:MCD opened at $269.30 on Tuesday. The company has a market cap of $194.17 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 3.01 and a beta of 0.71. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The stock’s 50 day simple moving average is $278.97 and its two-hundred day simple moving average is $282.83.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 12.18 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.48%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

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.