Great Lakes Retirement Inc. Reduces Stake in McDonald’s Co. (NYSE:MCD)

Great Lakes Retirement Inc. lessened its position in McDonald’s Co. (NYSE:MCD) by 6.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,870 shares of the fast-food giant’s stock after selling 354 shares during the quarter. Great Lakes Retirement Inc.’s holdings in McDonald’s were worth $1,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of McDonald’s in the fourth quarter worth $2,725,190,000. GAMMA Investing LLC grew its holdings in McDonald’s by 39,039.7% during the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after purchasing an additional 3,488,982 shares during the period. Raymond James Financial Inc. bought a new stake in McDonald’s during the fourth quarter valued at about $703,074,000. Castlekeep Investment Advisors LLC bought a new stake in McDonald’s during the fourth quarter valued at about $350,935,000. Finally, Northern Trust Corp boosted its stake in shares of McDonald’s by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after acquiring an additional 895,896 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of a number of research reports. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Truist Financial set a $350.00 target price on McDonald’s in a research report on Friday, May 2nd. Piper Sandler increased their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Robert W. Baird increased their target price on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Redburn Atlantic reissued a “sell” rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $321.79.

McDonald’s Stock Performance

MCD opened at $301.57 on Monday. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The stock has a market capitalization of $215.63 billion, a PE ratio of 26.48, a P/E/G ratio of 3.10 and a beta of 0.56. The business’s 50 day moving average price is $311.95 and its 200 day moving average price is $303.03.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the business posted $2.70 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio is currently 62.49%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now owns 11,161 shares of the company’s stock, valued at $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.