Texas Capital Bank Wealth Management Services Inc Decreases Stake in McDonald’s Co. (NYSE:MCD)

Texas Capital Bank Wealth Management Services Inc decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,803 shares of the fast-food giant’s stock after selling 59 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in McDonald’s were worth $813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Morse Asset Management Inc increased its stake in shares of McDonald’s by 12.8% in the 3rd quarter. Morse Asset Management Inc now owns 3,385 shares of the fast-food giant’s stock worth $1,031,000 after acquiring an additional 385 shares during the last quarter. Neo Ivy Capital Management purchased a new position in McDonald’s during the third quarter worth about $408,000. Soltis Investment Advisors LLC raised its stake in McDonald’s by 6.9% during the third quarter. Soltis Investment Advisors LLC now owns 2,869 shares of the fast-food giant’s stock worth $874,000 after purchasing an additional 184 shares during the period. McIlrath & Eck LLC grew its stake in shares of McDonald’s by 11.6% in the 3rd quarter. McIlrath & Eck LLC now owns 1,537 shares of the fast-food giant’s stock valued at $468,000 after buying an additional 160 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $1,647,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $305.00, for a total value of $286,395.00. Following the completion of the sale, the insider now owns 13,978 shares in the company, valued at $4,263,290. This represents a 6.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,497 shares of company stock worth $8,461,400. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MCD shares. KeyCorp increased their price objective on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Loop Capital reissued a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Friday, January 3rd. BMO Capital Markets upped their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research report 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 report on Tuesday, February 4th. Finally, Truist Financial decreased their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $322.87.

McDonald’s Stock Performance

MCD opened at $306.49 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The company has a market cap of $218.98 billion, a P/E ratio of 26.91, a PEG ratio of 3.10 and a beta of 0.62. The business’s 50-day simple moving average is $305.71 and its 200-day simple moving average is $298.97.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share 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, analysts predict 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. Shareholders of record on Monday, March 3rd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

About McDonald’s

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.