Cumberland Partners Ltd Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

Cumberland Partners Ltd lessened its holdings in McDonald’s Co. (NYSE:MCD) by 55.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,596 shares of the fast-food giant’s stock after selling 9,270 shares during the period. Cumberland Partners Ltd’s holdings in McDonald’s were worth $2,210,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Blue Bell Private Wealth Management LLC increased its stake in McDonald’s by 51.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after buying an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new stake in McDonald’s during the 3rd quarter worth $33,000. Keener Financial Planning LLC purchased a new stake in McDonald’s during the 4th quarter worth $39,000. Bear Mountain Capital Inc. purchased a new stake in McDonald’s during the 4th quarter worth $43,000. Finally, Mendota Financial Group LLC purchased a new stake in McDonald’s during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD traded up $1.23 during trading hours on Tuesday, hitting $276.81. 3,275,408 shares of the stock were exchanged, compared to its average volume of 3,243,950. The company’s 50 day moving average is $282.61 and its 200 day moving average is $281.45. The firm has a market capitalization of $199.58 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.99 and a beta of 0.71. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39.

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, beating analysts’ consensus estimates of $2.83 by $0.12. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 EPS. Research analysts anticipate that McDonald’s Co. will post 12.33 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio (DPR) is currently 57.74%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent analyst reports. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. TD Cowen reiterated a “buy” rating and issued a $325.00 price objective on shares of McDonald’s in a research report on Wednesday, April 10th. Morgan Stanley cut 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 report on Friday, April 12th. Evercore ISI reiterated an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. Finally, Bank of America boosted their price target on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Friday, March 22nd. The shares were 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 in the company, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were 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 approximately $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

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.