Obermeyer Wood Investment Counsel Lllp Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Obermeyer Wood Investment Counsel Lllp reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 161,548 shares of the fast-food giant’s stock after selling 3,677 shares during the period. McDonald’s comprises about 3.3% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its 9th biggest position. Obermeyer Wood Investment Counsel Lllp’s holdings in McDonald’s were worth $47,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Wealth Network Inc. increased its holdings in McDonald’s by 4.2% in the 4th quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares in the last quarter. Paragon Capital Management Ltd lifted its stake in shares of McDonald’s by 2.7% in the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock worth $407,000 after purchasing an additional 36 shares during the period. Proquility Private Wealth Partners LLC lifted its stake in shares of McDonald’s by 1.0% in the 4th quarter. Proquility Private Wealth Partners LLC now owns 3,737 shares of the fast-food giant’s stock worth $985,000 after purchasing an additional 38 shares during the period. Unique Wealth LLC lifted its stake in shares of McDonald’s by 1.2% in the 4th quarter. Unique Wealth LLC now owns 3,249 shares of the fast-food giant’s stock worth $963,000 after purchasing an additional 38 shares during the period. Finally, Patron Partners LLC lifted its stake in shares of McDonald’s by 0.7% in the 4th quarter. Patron Partners LLC now owns 5,158 shares of the fast-food giant’s stock worth $1,529,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD traded up $1.03 on Thursday, hitting $270.98. The company had a trading volume of 3,378,240 shares, compared to its average volume of 3,248,558. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39. The stock has a market capitalization of $195.38 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 2.88 and a beta of 0.71. The stock has a fifty day moving average price of $283.86 and a 200-day moving average price of $280.69.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.12. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Analysts forecast that McDonald’s Co. will post 12.34 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.47%. McDonald’s’s payout ratio is 57.74%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCD. Morgan Stanley lowered their price objective on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Stifel Nicolaus lowered their price objective on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Citigroup reduced their target price on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a report on Tuesday. Wedbush reissued an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a report on Tuesday, February 6th. Finally, Truist Financial reduced their target price on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $319.72.

McDonald’s Profile

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.