Carmel Capital Partners LLC Sells 115 Shares of McDonald’s Co. (NYSE:MCD)

by · The Markets Daily

Carmel Capital Partners LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,183 shares of the fast-food giant’s stock after selling 115 shares during the period. Carmel Capital Partners LLC’s holdings in McDonald’s were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Covestor Ltd increased its position in shares of McDonald’s by 103.4% during the first quarter. Covestor Ltd now owns 413 shares of the fast-food giant’s stock valued at $102,000 after acquiring an additional 210 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of McDonald’s by 7.7% during the first quarter. NewEdge Advisors LLC now owns 69,824 shares of the fast-food giant’s stock valued at $17,266,000 after acquiring an additional 5,007 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of McDonald’s by 4.8% during the first quarter. Mackenzie Financial Corp now owns 516,408 shares of the fast-food giant’s stock valued at $127,697,000 after acquiring an additional 23,643 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of McDonald’s during the first quarter valued at approximately $1,108,000. Finally, Equitable Holdings Inc. increased its position in shares of McDonald’s by 59.7% during the first quarter. Equitable Holdings Inc. now owns 9,338 shares of the fast-food giant’s stock valued at $2,309,000 after acquiring an additional 3,490 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD traded up $1.01 during midday trading on Friday, hitting $271.99. 3,017,097 shares of the company traded hands, compared to its average volume of 3,163,395. The firm has a 50 day moving average of $283.10 and a 200-day moving average of $280.72. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The stock has a market cap of $196.11 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.98 and a beta of 0.71.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, beating the consensus estimate of $2.83 by $0.12. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that McDonald’s Co. will post 12.33 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, February 29th. McDonald’s’s dividend payout ratio (DPR) is presently 57.74%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America raised their price target 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 cut their target price on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Stifel Nicolaus cut their target price on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Morgan Stanley cut their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Argus reaffirmed a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.72.

Get Our Latest Research Report on MCD

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the sale, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

McDonald’s Profile

(Free Report)

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.

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