New York Life Investment Management LLC Increases Holdings in McDonald’s Co. (NYSE:MCD)

New York Life Investment Management LLC grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 11.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,545 shares of the fast-food giant’s stock after purchasing an additional 10,632 shares during the quarter. New York Life Investment Management LLC’s holdings in McDonald’s were worth $30,886,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the 3rd quarter valued at $25,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of McDonald’s during the 4th quarter valued at $27,000. Collier Financial purchased a new stake in shares of McDonald’s during the 4th quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s in the 3rd quarter worth about $31,000. Finally, Marshall Investment Management LLC purchased a new stake in McDonald’s in the 4th quarter worth about $37,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 2.2 %

Shares of MCD opened at $304.02 on Thursday. The company has a market cap of $217.87 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74. The stock has a 50-day moving average price of $293.36 and a 200-day moving average price of $294.72. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

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

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. McDonald’s’s payout ratio is 62.16%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent research reports. Wedbush lifted their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Piper Sandler decreased their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. TD Securities reissued a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Monday, February 10th. Finally, BMO Capital Markets raised their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $323.61.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $305.00, for a total value of $286,395.00. Following the completion of the sale, the insider now owns 13,978 shares in the company, valued at $4,263,290. The trade was a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,504 shares of company stock worth $9,897,305 in the last quarter. 0.23% of the stock is owned by insiders.

McDonald’s Company 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.