Payden & Rygel Has $11.77 Million Stake in McDonald’s Co. (NYSE:MCD)

Payden & Rygel lowered its position in McDonald’s Co. (NYSE:MCD) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,600 shares of the fast-food giant’s stock after selling 4,500 shares during the period. Payden & Rygel’s holdings in McDonald’s were worth $11,770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Vanguard Group Inc. raised its stake in shares of McDonald’s by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock valued at $20,341,391,000 after acquiring an additional 526,466 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McDonald’s by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after purchasing an additional 157,458 shares during the period. Wellington Management Group LLP lifted its stake in shares of McDonald’s by 0.9% in the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after buying an additional 128,800 shares during the last quarter. Norges Bank bought a new stake in shares of McDonald’s during the 4th quarter worth $2,725,190,000. Finally, Bank of New York Mellon Corp grew its stake in McDonald’s by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after buying an additional 52,195 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCD shares. KeyCorp lifted their price objective on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Robert W. Baird increased their price objective on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Bank of America boosted their target price on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Truist Financial reduced their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Citigroup decreased their price target on shares of McDonald’s from $360.00 to $353.00 and set a “buy” rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.30.

Insider Buying and Selling

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the transaction, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Manuel Jm Steijaert sold 10,459 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $308.71, for a total transaction of $3,228,797.89. Following the transaction, the executive vice president now directly owns 4,606 shares of the company’s stock, valued at $1,421,918.26. The trade was a 69.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,497 shares of company stock valued at $8,461,400 over the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $299.68 on Friday. The firm has a fifty day moving average price of $304.34 and a two-hundred day moving average price of $298.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The company has a market cap of $214.11 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.10 and a beta of 0.62.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities research analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.16%.

McDonald’s Company Profile

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.