Bridges Investment Management Inc. Sells 572 Shares of McDonald’s Co. (NYSE:MCD)

Bridges Investment Management Inc. lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,714 shares of the fast-food giant’s stock after selling 572 shares during the period. Bridges Investment Management Inc.’s holdings in McDonald’s were worth $28,906,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in McDonald’s by 542.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after buying an additional 677,139 shares during the period. Proficio Capital Partners LLC grew its stake in McDonald’s by 43,591.6% during the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock worth $171,241,000 after buying an additional 589,359 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in McDonald’s in the third quarter valued at approximately $121,254,000. Zurich Insurance Group Ltd FI raised its holdings in shares of McDonald’s by 3,580.1% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock worth $81,807,000 after buying an additional 261,350 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in McDonald’s by 26,948.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 227,752 shares of the fast-food giant’s stock worth $66,023,000 after acquiring an additional 226,910 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Transactions at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 10,459 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $308.71, for a total value of $3,228,797.89. Following the completion of the transaction, the executive vice president now directly owns 4,606 shares in the company, valued at $1,421,918.26. The trade was a 69.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. The trade was a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,504 shares of company stock worth $10,206,575. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent research reports. Wedbush lifted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Barclays boosted their price target on McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. KeyCorp increased their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Citigroup lifted 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. Finally, Loop Capital restated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Price Performance

Shares of MCD opened at $308.17 on Friday. The company has a 50-day moving average of $294.06 and a 200 day moving average of $295.27. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm has a market capitalization of $220.18 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) 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%. On average, equities analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.30%. McDonald’s’s dividend payout ratio is presently 62.16%.

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.