Oak Asset Management LLC Trims Holdings in McDonald’s Co. (NYSE:MCD)

Oak Asset Management LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,662 shares of the fast-food giant’s stock after selling 43 shares during the period. McDonald’s accounts for 2.0% of Oak Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Oak Asset Management LLC’s holdings in McDonald’s were worth $5,262,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MCD. Signature Resources Capital Management LLC purchased a new position in McDonald’s during the fourth quarter worth about $31,000. Spartan Planning & Wealth Management purchased a new stake in shares of McDonald’s during the 3rd quarter valued at approximately $33,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s during the 4th quarter valued at approximately $38,000. Keener Financial Planning LLC acquired a new position in McDonald’s in the fourth quarter valued at approximately $39,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in McDonald’s in the fourth quarter worth approximately $39,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

NYSE MCD opened at $254.84 on Monday. The company has a market capitalization of $183.66 billion, a PE ratio of 21.63, a P/E/G ratio of 2.87 and a beta of 0.71. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The company has a fifty day moving average of $263.31 and a two-hundred day moving average of $279.07.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the previous year, the business posted $2.63 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.62%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial decreased their price target on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Bank of America lowered their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Citigroup decreased their price objective on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Finally, Evercore ISI restated an “outperform” rating and set a $330.00 price target on shares of McDonald’s in a research report on Wednesday, March 27th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.14.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,095 shares of company stock valued at $1,100,625. Company insiders own 0.23% of the company’s stock.

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.