RNC Capital Management LLC Reduces Holdings in McDonald’s Co. (NYSE:MCD)

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC boosted its stake in McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after buying an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new position in McDonald’s during the third quarter worth $33,000. Retirement Group LLC bought a new stake in shares of McDonald’s during the fourth quarter worth $37,000. VisionPoint Advisory Group LLC bought a new stake in shares of McDonald’s during the second quarter worth $46,000. Finally, Compass Wealth Management LLC bought a new stake in shares of McDonald’s during the fourth quarter worth $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 1.2 %

Shares of NYSE MCD opened at $282.02 on Thursday. The business’s 50 day moving average price is $290.82 and its 200 day moving average price is $280.92. The firm has a market cap of $203.63 billion, a P/E 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.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. McDonald’s’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 12.38 earnings per share 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 is presently 57.74%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the sale, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HSBC assumed coverage on McDonald’s in a research report on Wednesday, December 20th. They set a “buy” rating and a $317.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $330.00 target price on shares of McDonald’s in a research report on Tuesday, February 6th. BMO Capital Markets lifted their target price on McDonald’s from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. Barclays decreased their price objective on McDonald’s from $343.00 to $340.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Finally, TD Cowen restated an “outperform” rating and issued a $325.00 price objective on shares of McDonald’s in a report on Tuesday, March 19th. Eight investment 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 stock has a consensus rating of “Moderate Buy” and an average price target of $320.60.

McDonald’s Profile

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.