Fisher Asset Management LLC Lowers Position in McDonald’s Co. (NYSE:MCD)

Fisher Asset Management LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,781 shares of the fast-food giant’s stock after selling 2,089 shares during the quarter. Fisher Asset Management LLC’s holdings in McDonald’s were worth $8,831,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Roffman Miller Associates Inc. PA lifted its position in shares of McDonald’s by 1.7% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock valued at $46,179,000 after buying an additional 2,546 shares during the last quarter. Shulman DeMeo Asset Management LLC lifted its position in shares of McDonald’s by 12.2% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock valued at $312,000 after buying an additional 114 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of McDonald’s during the fourth quarter valued at about $4,286,000. Strait & Sound Wealth Management LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at about $211,000. Finally, First National Bank of Mount Dora Trust Investment Services lifted its position in shares of McDonald’s by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after buying an additional 301 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of NYSE MCD opened at $250.79 on Thursday. The stock has a market capitalization of $180.74 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 2.85 and a beta of 0.71. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39. The firm’s 50 day simple moving average is $264.89 and its 200-day simple moving average is $280.67.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the business earned $2.63 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.66%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analyst Ratings Changes

Several research firms have commented on MCD. Truist Financial decreased their price target on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Bank of America cut their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Morgan Stanley cut their price objective on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, BMO Capital Markets cut their price objective on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $315.14.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 in the company, valued at approximately $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Insiders have sold 4,096 shares of company stock worth $1,127,678 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

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.