CANADA LIFE ASSURANCE Co Has $352.19 Million Position in McDonald’s Co. (NYSE:MCD)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,215,715 shares of the fast-food giant’s stock after selling 1,936 shares during the period. McDonald’s comprises approximately 0.6% of CANADA LIFE ASSURANCE Co’s holdings, making the stock its 26th largest position. CANADA LIFE ASSURANCE Co’s holdings in McDonald’s were worth $352,187,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MCD. Boltwood Capital Management lifted its stake in shares of McDonald’s by 1.9% during the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant’s stock worth $546,000 after purchasing an additional 35 shares during the last quarter. Pettee Investors Inc. lifted its position in shares of McDonald’s by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after buying an additional 35 shares during the last quarter. Covestor Ltd boosted its holdings in shares of McDonald’s by 4.1% in the 4th quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock valued at $261,000 after buying an additional 35 shares in the last quarter. Modus Advisors LLC grew its position in shares of McDonald’s by 0.4% in the 4th quarter. Modus Advisors LLC now owns 9,396 shares of the fast-food giant’s stock worth $2,724,000 after buying an additional 36 shares during the last quarter. Finally, Independent Wealth Network Inc. raised its stake in shares of McDonald’s by 5.1% during the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant’s stock worth $213,000 after acquiring an additional 36 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 3,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the transaction, the chief marketing officer now owns 9,858 shares of the company’s stock, valued at $2,964,892.08. This represents a 24.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,497 shares of company stock valued at $8,461,400. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wedbush lifted their price target on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Truist Financial dropped their target price on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Erste Group Bank upgraded McDonald’s from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley dropped their price target on McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research 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. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $322.87.

McDonald’s Price Performance

MCD opened at $309.19 on Thursday. The firm has a fifty day moving average price of $307.31 and a 200 day moving average price of $299.25. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The stock has a market cap of $220.90 billion, a P/E ratio of 27.15, a P/E/G ratio of 3.10 and a beta of 0.62.

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 analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities analysts expect that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.77 per share. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.29%. McDonald’s’s dividend payout ratio is currently 62.16%.

McDonald’s 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.