RNC Capital Management LLC Sells 702 Shares of McDonald’s Co. (NYSE:MCD)

RNC Capital Management LLC lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,933 shares of the fast-food giant’s stock after selling 702 shares during the period. RNC Capital Management LLC’s holdings in McDonald’s were worth $2,352,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MCD. Moneta Group Investment Advisors LLC raised its stake in McDonald’s by 106,340.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock worth $5,069,234,000 after buying an additional 19,217,818 shares during the last quarter. Norges Bank bought a new position in McDonald’s during the fourth quarter worth $2,341,360,000. Arrowstreet Capital Limited Partnership raised its stake in McDonald’s by 1,189.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock worth $541,962,000 after buying an additional 2,021,754 shares during the last quarter. Imprint Wealth LLC raised its stake in McDonald’s by 31,574.5% during the second quarter. Imprint Wealth LLC now owns 1,628,069 shares of the fast-food giant’s stock worth $162,807,000 after buying an additional 1,622,929 shares during the last quarter. Finally, Barclays PLC raised its stake in McDonald’s by 89.5% during the second quarter. Barclays PLC now owns 2,568,877 shares of the fast-food giant’s stock worth $766,580,000 after buying an additional 1,213,230 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $282.02 on Thursday. The firm has a market cap of $203.63 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 3.01 and a beta of 0.72. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The firm’s 50-day simple moving average is $290.82 and its two-hundred day simple moving average is $280.92.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, topping the consensus estimate of $2.83 by $0.12. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.45 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.59 earnings per share. Analysts forecast that McDonald’s Co. will post 12.38 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Thursday, February 29th. McDonald’s’s dividend payout ratio (DPR) is currently 57.74%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MCD. Stifel Nicolaus lifted their target price on shares of McDonald’s from $285.00 to $322.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. BMO Capital Markets raised their price target on shares of McDonald’s from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, December 7th. Truist Financial reduced their price target 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. Bank of America raised their price target on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada reduced their price target on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Eight analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $320.60.

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.