DAVENPORT & Co LLC Cuts Stake in McDonald’s Co. (NYSE:MCD)

DAVENPORT & Co LLC decreased its stake in McDonald’s Co. (NYSE:MCDFree Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,652 shares of the fast-food giant’s stock after selling 48,121 shares during the period. DAVENPORT & Co LLC owned approximately 0.06% of McDonald’s worth $121,702,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCD. Independent Wealth Network Inc. boosted its stake in shares of McDonald’s by 4.2% in the 4th quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock valued at $256,000 after purchasing an additional 35 shares in the last quarter. Paragon Capital Management Ltd boosted its stake in shares of McDonald’s by 2.7% in the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares in the last quarter. Proquility Private Wealth Partners LLC boosted its stake in shares of McDonald’s by 1.0% in the 4th quarter. Proquility Private Wealth Partners LLC now owns 3,737 shares of the fast-food giant’s stock valued at $985,000 after purchasing an additional 38 shares in the last quarter. Unique Wealth LLC boosted its stake in shares of McDonald’s by 1.2% in the 4th quarter. Unique Wealth LLC now owns 3,249 shares of the fast-food giant’s stock valued at $963,000 after purchasing an additional 38 shares in the last quarter. Finally, Patron Partners LLC boosted its stake in shares of McDonald’s by 0.7% in the 4th quarter. Patron Partners LLC now owns 5,158 shares of the fast-food giant’s stock valued at $1,529,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Evercore ISI reiterated an “outperform” rating and set a $330.00 price target on shares of McDonald’s in a research report on Wednesday, March 27th. Bank of America upped their price target on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Argus reiterated a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Finally, Piper Sandler upped their price target on shares of McDonald’s from $273.00 to $299.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Eight investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $320.60.

View Our Latest Stock Analysis on McDonald’s

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

McDonald’s Trading Down 0.9 %

MCD stock traded down $2.48 during mid-day trading on Tuesday, reaching $277.74. The company’s stock had a trading volume of 2,818,346 shares, compared to its average volume of 3,171,498. The company has a market cap of $200.54 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 3.04 and a beta of 0.71. The business’s 50 day moving average price is $289.65 and its 200 day moving average price is $280.91. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. McDonald’s’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 EPS. As a group, equities analysts expect that McDonald’s Co. will post 12.38 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.41%. McDonald’s’s payout ratio is 57.74%.

About McDonald’s

(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.

Further Reading

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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