McDonald’s Co. (NYSE:MCD) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 64.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,392 shares of the fast-food giant’s stock after selling 16,922 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in McDonald’s were worth $2,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MCD. Brooklyn FI LLC purchased a new stake in McDonald’s during the 4th quarter valued at about $1,163,000. Compass Ion Advisors LLC grew its stake in McDonald’s by 13.0% during the 4th quarter. Compass Ion Advisors LLC now owns 1,916 shares of the fast-food giant’s stock valued at $555,000 after acquiring an additional 220 shares in the last quarter. Enhancing Capital LLC purchased a new stake in McDonald’s during the 4th quarter valued at about $1,073,000. Evoke Wealth LLC grew its stake in McDonald’s by 31.2% during the 4th quarter. Evoke Wealth LLC now owns 7,450 shares of the fast-food giant’s stock valued at $2,160,000 after acquiring an additional 1,770 shares in the last quarter. Finally, Horizon Investments LLC grew its stake in McDonald’s by 2.6% during the 4th quarter. Horizon Investments LLC now owns 14,792 shares of the fast-food giant’s stock valued at $4,288,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of McDonald’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,504 shares of company stock valued at $10,206,575. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.1 %

McDonald’s stock opened at $306.83 on Thursday. The stock has a market cap of $219.21 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. The company has a fifty day simple moving average of $297.89 and a 200-day simple moving average of $297.19. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, sell-side analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MCD shares. Robert W. Baird increased their price target on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler dropped their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, TD Securities reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $323.39.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.