McDonald’s Co. (NYSE:MCD) Holdings Decreased by Oak Asset Management LLC

Oak Asset Management LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,662 shares of the fast-food giant’s stock after selling 43 shares during the quarter. McDonald’s accounts for about 2.0% of Oak Asset Management LLC’s investment portfolio, making the stock its 14th largest holding. Oak Asset Management LLC’s holdings in McDonald’s were worth $5,262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in McDonald’s during the fourth quarter valued at approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC raised its holdings in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of McDonald’s by 10,702.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after purchasing an additional 2,154,297 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in McDonald’s by 552.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock valued at $234,729,000 after buying an additional 670,261 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Down 1.3 %

NYSE:MCD opened at $254.84 on Monday. The firm has a market capitalization of $183.66 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.87 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 has a 50-day moving average price of $263.31 and a 200 day moving average price of $279.07.

McDonald’s (NYSE:MCD) last issued 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). The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 earnings per share. On average, research analysts expect that McDonald’s Co. will post 12.19 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued 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 2.62%. McDonald’s’s payout ratio is presently 56.71%.

Analysts Set New Price Targets

Several analysts have recently issued reports on MCD shares. The Goldman Sachs Group started coverage on McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Stifel Nicolaus dropped their price target on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Wedbush decreased their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Truist Financial dropped their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $315.14.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,095 shares of company stock worth $1,100,625. Corporate insiders own 0.23% of the company’s stock.

About McDonald’s

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.