SlateStone Wealth LLC Sells 1,077 Shares of McDonald’s Co. (NYSE:MCD)

SlateStone Wealth LLC decreased its holdings in McDonald’s Co. (NYSE:MCD) by 7.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,316 shares of the fast-food giant’s stock after selling 1,077 shares during the quarter. SlateStone Wealth LLC’s holdings in McDonald’s were worth $3,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Marks Group Wealth Management Inc raised its stake in McDonald’s by 10.0% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,373 shares of the fast-food giant’s stock valued at $407,000 after buying an additional 125 shares during the period. Stockman Wealth Management Inc. grew its position in shares of McDonald’s by 5.5% in the fourth quarter. Stockman Wealth Management Inc. now owns 2,267 shares of the fast-food giant’s stock valued at $672,000 after purchasing an additional 118 shares during the last quarter. Larson Financial Group LLC grew its position in shares of McDonald’s by 3.1% in the fourth quarter. Larson Financial Group LLC now owns 7,391 shares of the fast-food giant’s stock valued at $2,191,000 after purchasing an additional 224 shares during the last quarter. California Public Employees Retirement System grew its position in shares of McDonald’s by 0.7% in the fourth quarter. California Public Employees Retirement System now owns 3,911,764 shares of the fast-food giant’s stock valued at $1,159,877,000 after purchasing an additional 26,147 shares during the last quarter. Finally, Garrison Asset Management LLC grew its position in shares of McDonald’s by 38.8% in the fourth quarter. Garrison Asset Management LLC now owns 1,127 shares of the fast-food giant’s stock valued at $334,000 after purchasing an additional 315 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $274.45 on Wednesday. The stock has a market capitalization of $197.88 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.03 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The stock has a fifty day moving average of $282.61 and a 200-day moving average of $281.45.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.12. The business had revenue of $6.41 billion during 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% compared to the same quarter last year. During the same period last year, the company earned $2.59 EPS. As a group, equities analysts forecast that McDonald’s Co. will post 12.33 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a yield of 2.43%. McDonald’s’s payout ratio is currently 57.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a research report on Wednesday, March 27th. BTIG Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Barclays decreased their target price on McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Argus reaffirmed a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Finally, Citigroup reduced their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated 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 $5,140,168.50. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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.