Sit Investment Associates Inc. Sells 4,819 Shares of McDonald’s Co. (NYSE:MCD)

Sit Investment Associates Inc. cut its position in McDonald’s Co. (NYSE:MCD) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,230 shares of the fast-food giant’s stock after selling 4,819 shares during the quarter. Sit Investment Associates Inc.’s holdings in McDonald’s were worth $16,011,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCD. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the 3rd quarter valued at about $25,000. Atala Financial Inc acquired a new stake in McDonald’s in the 4th quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s during the fourth quarter worth about $27,000. Collier Financial acquired a new position in McDonald’s during the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC raised its stake in McDonald’s by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after buying an additional 55 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

McDonald’s stock opened at $299.68 on Friday. The stock has a fifty day moving average of $304.34 and a 200-day moving average of $298.72. The stock has a market capitalization of $214.11 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32.

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

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,099 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.60, for a total value of $334,755.40. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $475,176. This trade represents a 41.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,497 shares of company stock worth $8,461,400 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MCD shares. Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Piper Sandler reduced their price objective 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. Truist Financial dropped their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Erste Group Bank raised shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Wedbush increased their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.30.

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.