Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,724 shares of the fast-food giant’s stock after selling 2,151 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McDonald’s were worth $31,336,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MCD. Norges Bank acquired a new position in McDonald’s during the 4th quarter valued at approximately $2,060,325,000. BlackRock Inc. increased its stake in McDonald’s by 4.5% during the 4th quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock valued at $14,185,930,000 after purchasing an additional 2,294,758 shares in the last quarter. State Street Corp increased its stake in McDonald’s by 2.9% during the 4th quarter. State Street Corp now owns 36,973,382 shares of the fast-food giant’s stock valued at $9,911,455,000 after purchasing an additional 1,033,751 shares in the last quarter. 1832 Asset Management L.P. increased its stake in McDonald’s by 47.8% during the 4th quarter. 1832 Asset Management L.P. now owns 2,791,623 shares of the fast-food giant’s stock valued at $753,794,000 after purchasing an additional 903,057 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in McDonald’s by 99.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,754,981 shares of the fast-food giant’s stock valued at $470,458,000 after purchasing an additional 876,075 shares in the last quarter. Institutional investors and hedge funds own 68.44% of the company’s stock.

In related news, insider Joseph M. Erlinger sold 5,892 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $249.23, for a total transaction of $1,468,463.16. Following the completion of the sale, the insider now directly owns 8,187 shares in the company, valued at $2,040,446.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

A number of analysts have recently weighed in on the stock. Guggenheim cut their price objective on shares of McDonald’s from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, May 2nd. Citigroup increased their price objective on shares of McDonald’s from $270.00 to $273.00 in a research note on Friday, April 29th. Truist Financial cut their price objective on shares of McDonald’s from $280.00 to $273.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $260.00 to $275.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com assumed coverage on shares of McDonald’s in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.15.

Shares of NYSE:MCD traded up $0.06 during midday trading on Thursday, hitting $243.12. The company’s stock had a trading volume of 12,631 shares, compared to its average volume of 2,655,546. The business’s 50 day simple moving average is $245.54 and its 200 day simple moving average is $250.03. The company has a market cap of $179.80 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.05 and a beta of 0.57. McDonald’s Co. has a 12-month low of $217.68 and a 12-month high of $271.15.

McDonald’s (NYSE:MCD – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.10. The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.57 billion. McDonald’s had a net margin of 29.93% and a negative return on equity of 131.20%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.92 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 9.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Monday, June 6th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, June 3rd. McDonald’s’s dividend payout ratio is currently 58.29%.

McDonald’s Company Profile (Get Rating)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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