Sawgrass Asset Management LLC Sells 2,409 Shares of McDonald’s Co. (NYSE:MCD)

Sawgrass Asset Management LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 56,546 shares of the fast-food giant’s stock after selling 2,409 shares during the period. McDonald’s makes up 1.8% of Sawgrass Asset Management LLC’s holdings, making the stock its 12th largest position. Sawgrass Asset Management LLC’s holdings in McDonald’s were worth $17,219,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the period. Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares in the last quarter. Swedbank AB acquired a new stake in shares of McDonald’s during the first quarter worth $348,206,000. Capital World Investors lifted its holdings in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in McDonald’s in the 2nd quarter valued at approximately $110,321,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD stock opened at $292.63 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a market capitalization of $209.70 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The company’s 50-day simple moving average is $300.06 and its 200 day simple moving average is $277.46.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. UBS Group raised their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial lowered their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CFO Ian Frederick Borden sold 5,939 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12. This trade represents a 22.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock valued at $10,698,289 in the last three months. Corporate insiders own 0.23% of the company’s stock.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.