Connor Clark & Lunn Investment Management Ltd. Decreases Position in McDonald’s Co. (NYSE:MCD)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in McDonald’s Co. (NYSE:MCD) by 56.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,642 shares of the fast-food giant’s stock after selling 3,429 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in McDonald’s were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at $25,000. Comprehensive Financial Planning Inc. PA acquired a new stake in McDonald’s during the 4th quarter worth about $27,000. Collier Financial acquired a new stake in McDonald’s during the 4th quarter worth about $29,000. Fairway Wealth LLC grew its position in McDonald’s by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in McDonald’s during the 3rd quarter worth about $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. KeyCorp raised their target price on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Piper Sandler dropped their target price on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. BMO Capital Markets raised their target price on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Robert W. Baird raised their target price on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Nine 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. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $323.39.

Insiders Place Their Bets

In other McDonald’s news, EVP Tiffanie L. Boyd sold 1,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the transaction, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the transaction, the insider now owns 8,187 shares of the company’s stock, valued at approximately $2,383,235.70. This trade represents a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock worth $10,206,575 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $305.07 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The firm has a 50 day moving average price of $298.75 and a 200 day moving average price of $297.38. The company has a market capitalization of $217.96 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting 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, equities research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.32%. McDonald’s’s dividend payout ratio (DPR) 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.