E. Ohman J or Asset Management AB Sells 8,667 Shares of McDonald’s Corporation $MCD

E. Ohman J or Asset Management AB lowered its holdings in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 29.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,213 shares of the fast-food giant’s stock after selling 8,667 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in McDonald’s were worth $6,483,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of McDonald’s during the second quarter valued at $2,780,712,000. Laurel Wealth Advisors LLC increased its stake in McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after buying an additional 5,718,087 shares during the period. Viking Global Investors LP increased its stake in McDonald’s by 171.7% in the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock worth $913,157,000 after buying an additional 1,974,998 shares during the period. Amundi lifted its holdings in McDonald’s by 96.0% during the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock valued at $1,188,147,000 after buying an additional 1,974,751 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in McDonald’s by 36.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,396,837 shares of the fast-food giant’s stock valued at $1,336,155,000 after buying an additional 1,179,244 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

McDonald’s Stock Performance

Shares of MCD opened at $308.26 on Tuesday. The company has a 50 day moving average price of $321.62 and a 200-day moving average price of $311.57. McDonald’s Corporation has a fifty-two week low of $283.47 and a fifty-two week high of $341.75. The stock has a market capitalization of $218.98 billion, a PE ratio of 25.80, a PEG ratio of 2.75 and a beta of 0.51.

McDonald’s (NYSE:MCDGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.07. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. McDonald’s’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $2.83 earnings per share. Equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were issued a $1.86 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 62.26%.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 26,277 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $331.35, for a total transaction of $8,706,883.95. Following the sale, the chief executive officer owned 22,900 shares of the company’s stock, valued at $7,587,915. This trade represents a 53.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 6,201 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $333.29, for a total transaction of $2,066,731.29. Following the completion of the transaction, the executive vice president owned 2,291 shares of the company’s stock, valued at $763,567.39. This represents a 73.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 71,657 shares of company stock valued at $23,722,204. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of McDonald’s from $305.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Erste Group Bank raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company raised their price objective on McDonald’s from $345.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $340.00 target price on shares of McDonald’s in a research report on Thursday, February 12th. Finally, Robert W. Baird set a $335.00 target price on McDonald’s in a report on Thursday, February 12th. Seventeen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus price target of $339.69.

View Our Latest Stock Analysis on MCD

McDonald’s Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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