McDonald’s Co. (NYSE:MCD) Shares Sold by OLD Republic International Corp

OLD Republic International Corp lessened its holdings in McDonald’s Co. (NYSE:MCD) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 193,050 shares of the fast-food giant’s stock after selling 42,250 shares during the period. McDonald’s accounts for approximately 2.2% of OLD Republic International Corp’s investment portfolio, making the stock its 21st biggest holding. OLD Republic International Corp’s holdings in McDonald’s were worth $55,963,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s during the third quarter worth approximately $25,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald’s during the 4th quarter valued at $27,000. Collier Financial bought a new stake in McDonald’s during the 4th quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s during the 3rd quarter worth $31,000. Finally, Marshall Investment Management LLC bought a new position in shares of McDonald’s in the fourth quarter worth $37,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,099 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.60, for a total value of $334,755.40. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $475,176. The trade was a 41.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,106 shares of company stock valued at $6,382,112 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Barclays increased their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. KeyCorp increased their price target on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Wedbush boosted their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Stock Performance

Shares of MCD opened at $304.76 on Monday. The company has a market capitalization of $218.40 billion, a PE ratio of 26.76, a PEG ratio of 3.10 and a beta of 0.74. The company’s 50 day moving average price is $292.61 and its 200 day moving average price is $294.10. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, equities analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

About McDonald’s

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.