Intact Investment Management Inc. Lowers Position in McDonald’s Co. (NYSE:MCD)

Intact Investment Management Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,261 shares of the fast-food giant’s stock after selling 4,200 shares during the period. Intact Investment Management Inc.’s holdings in McDonald’s were worth $15,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MCD. United Bank lifted its holdings in McDonald’s by 3.5% in the third quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock worth $1,963,000 after buying an additional 218 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in McDonald’s by 1.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 14,413 shares of the fast-food giant’s stock worth $4,389,000 after buying an additional 272 shares during the period. Cable Hill Partners LLC purchased a new position in shares of McDonald’s during the third quarter valued at approximately $251,000. ROI Financial Advisors LLC purchased a new position in shares of McDonald’s during the third quarter valued at approximately $292,000. Finally, Wealthstream Advisors Inc. lifted its holdings in shares of McDonald’s by 9.1% during the third quarter. Wealthstream Advisors Inc. now owns 1,277 shares of the fast-food giant’s stock valued at $389,000 after purchasing an additional 107 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCD shares. Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Wedbush raised their price target on shares of McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Citigroup raised their price target on shares of McDonald’s from $336.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. KeyCorp raised their price target on shares of McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler reduced 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. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $323.61.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the transaction, the insider now owns 8,187 shares in the company, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. This represents a 24.27 % 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 in the last 90 days. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $297.45 on Friday. The firm’s 50 day moving average price is $296.86 and its 200-day moving average price is $296.71. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The firm has a market cap of $212.52 billion, a P/E ratio of 26.11, a P/E/G ratio of 3.10 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its earnings results 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, research analysts predict that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is 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.