Corebridge Financial Inc. Has $47.75 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Corebridge Financial Inc. lowered its holdings in McDonald’s Co. (NYSE:MCD) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,702 shares of the fast-food giant’s stock after selling 10,114 shares during the quarter. Corebridge Financial Inc.’s holdings in McDonald’s were worth $47,745,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $703,074,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in McDonald’s by 542.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock valued at $244,174,000 after buying an additional 677,139 shares in the last quarter. Proficio Capital Partners LLC grew its position in McDonald’s by 43,591.6% in the fourth quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock valued at $171,241,000 after acquiring an additional 589,359 shares during the period. Vanguard Group Inc. raised its stake in McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after acquiring an additional 526,466 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of McDonald’s by 518.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 348,119 shares of the fast-food giant’s stock valued at $100,916,000 after acquiring an additional 291,802 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Loop Capital reiterated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Robert W. Baird increased their price target on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Wedbush lifted their price objective on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, KeyCorp increased their target price on McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.39.

McDonald’s Stock Down 0.6 %

Shares of McDonald’s stock opened at $305.07 on Monday. The business has a fifty day simple moving average of $298.75 and a 200 day simple moving average of $297.53. The stock has a market cap of $217.96 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.32%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Transactions at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,405 shares of company stock valued at $9,886,656 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Company Profile

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, Spain, and the U.K.