Cullen Capital Management LLC Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Cullen Capital Management LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 3.9% during the fourth quarter, HoldingsChannel reports. The fund owned 7,775 shares of the fast-food giant’s stock after selling 319 shares during the period. Cullen Capital Management LLC’s holdings in McDonald’s were worth $2,254,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank raised its stake in McDonald’s by 3.5% during the 3rd quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock worth $1,963,000 after acquiring an additional 218 shares in the last quarter. Morse Asset Management Inc increased its position in shares of McDonald’s by 12.8% during the third quarter. Morse Asset Management Inc now owns 3,385 shares of the fast-food giant’s stock worth $1,031,000 after purchasing an additional 385 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of McDonald’s by 6.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 216,186 shares of the fast-food giant’s stock valued at $65,831,000 after purchasing an additional 13,811 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of McDonald’s by 2,350.5% in the 3rd quarter. iA Global Asset Management Inc. now owns 27,200 shares of the fast-food giant’s stock valued at $8,283,000 after purchasing an additional 26,090 shares during the period. Finally, Goldstream Capital Management Ltd purchased a new position in McDonald’s during the 3rd quarter worth approximately $1,655,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCD. Erste Group Bank raised McDonald’s from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Morgan Stanley decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Truist Financial dropped their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird increased their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Finally, TD Securities restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.30.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 3,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the sale, the chief marketing officer now owns 9,858 shares in the company, valued at approximately $2,964,892.08. This represents a 24.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,497 shares of company stock worth $8,461,400. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Down 5.8 %

Shares of McDonald’s stock opened at $299.68 on Friday. The company has a 50-day moving average of $304.34 and a two-hundred day moving average of $298.75. The stock has a market cap of $214.11 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last issued 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, sell-side analysts forecast that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $1.77 dividend. The ex-dividend date was Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s payout ratio is 62.16%.

McDonald’s 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.