High Note Wealth LLC Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

High Note Wealth LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,446 shares of the fast-food giant’s stock after selling 100 shares during the period. McDonald’s comprises approximately 1.4% of High Note Wealth LLC’s portfolio, making the stock its 23rd largest position. High Note Wealth LLC’s holdings in McDonald’s were worth $3,690,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Shulman DeMeo Asset Management LLC boosted its holdings in shares of McDonald’s by 12.2% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after purchasing an additional 114 shares during the period. Beaumont Financial Advisors LLC boosted its holdings in shares of McDonald’s by 0.6% during the third quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after purchasing an additional 450 shares during the period. First National Bank of Mount Dora Trust Investment Services boosted its holdings in shares of McDonald’s by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after purchasing an additional 301 shares during the period. Mengis Capital Management Inc. boosted its holdings in shares of McDonald’s by 7.9% during the third quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after purchasing an additional 331 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its holdings in shares of McDonald’s by 7.7% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the fast-food giant’s stock worth $323,000 after purchasing an additional 88 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Up 1.2 %

MCD stock opened at $282.02 on Thursday. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39. The company has a 50-day moving average price of $290.82 and a 200 day moving average price of $280.92. The stock has a market cap of $203.63 billion, a PE ratio of 24.38, a P/E/G ratio of 3.01 and a beta of 0.72.

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

McDonald’s Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of McDonald’s from $327.00 to $310.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. StockNews.com downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. HSBC initiated coverage on shares of McDonald’s in a research note on Wednesday, December 20th. They issued a “buy” rating and a $317.00 price target for the company. Evercore ISI reissued an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a research note on Wednesday. Finally, Robert W. Baird reissued an “outperform” rating and issued a $315.00 price target on shares of McDonald’s in a research note on Tuesday, February 6th. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $320.60.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

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.