Latitude Advisors LLC Sells 637 Shares of McDonald’s Co. (NYSE:MCD)

Latitude Advisors LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 24.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,971 shares of the fast-food giant’s stock after selling 637 shares during the quarter. Latitude Advisors LLC’s holdings in McDonald’s were worth $571,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in shares of McDonald’s by 1.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,513 shares of the fast-food giant’s stock worth $765,000 after buying an additional 42 shares in the last quarter. Rise Advisors LLC boosted its holdings in McDonald’s by 2.6% in the 3rd quarter. Rise Advisors LLC now owns 2,023 shares of the fast-food giant’s stock valued at $616,000 after purchasing an additional 51 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of McDonald’s during the 3rd quarter valued at $1,472,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of McDonald’s by 3.9% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,838 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 329 shares in the last quarter. Finally, VitalStone Financial LLC raised its position in shares of McDonald’s by 148.8% in the third quarter. VitalStone Financial LLC now owns 311 shares of the fast-food giant’s stock worth $95,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the transaction, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock worth $2,150,857 in the last quarter. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Up 4.7 %

Shares of MCD stock opened at $308.22 on Tuesday. The firm has a market capitalization of $220.88 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 4.08 and a beta of 0.74. The stock has a fifty day moving average of $290.70 and a 200 day moving average of $291.16. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. Equities research analysts anticipate that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on MCD shares. Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. TD Securities restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research report on Monday. BMO Capital Markets lifted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler decreased their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.13.

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, Russia, Spain, and the U.K.