Lorne Steinberg Wealth Management Inc. Has $521,000 Position in McDonald’s Co. (NYSE:MCD)

Lorne Steinberg Wealth Management Inc. lowered its holdings in McDonald’s Co. (NYSE:MCD) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,756 shares of the fast-food giant’s stock after selling 90 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in McDonald’s were worth $521,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Douglas Lane & Associates LLC boosted its holdings in McDonald’s by 3.8% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,129 shares of the fast-food giant’s stock worth $561,000 after acquiring an additional 78 shares during the last quarter. Traynor Capital Management Inc. boosted its holdings in McDonald’s by 1.2% during the 3rd quarter. Traynor Capital Management Inc. now owns 5,002 shares of the fast-food giant’s stock worth $1,318,000 after acquiring an additional 59 shares during the last quarter. Guidance Capital Inc. boosted its holdings in McDonald’s by 2.5% during the 3rd quarter. Guidance Capital Inc. now owns 2,421 shares of the fast-food giant’s stock worth $616,000 after acquiring an additional 60 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its holdings in shares of McDonald’s by 14.1% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 1,067 shares of the fast-food giant’s stock worth $281,000 after buying an additional 132 shares during the last quarter. Finally, Montecito Bank & Trust boosted its holdings in shares of McDonald’s by 4.3% in the 3rd quarter. Montecito Bank & Trust now owns 6,646 shares of the fast-food giant’s stock worth $1,751,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD traded down $1.24 during midday trading on Wednesday, hitting $275.64. The stock had a trading volume of 1,526,184 shares, compared to its average volume of 3,222,265. The company has a market cap of $198.74 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 3.03 and a beta of 0.71. The business has a fifty day moving average of $282.61 and a 200 day moving average of $281.45. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.12. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. McDonald’s’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 earnings per share. On average, equities research analysts anticipate that McDonald’s Co. will post 12.33 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio is currently 57.74%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MCD shares. Morgan Stanley cut their price target on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Bank of America boosted their price target on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Stephens restated an “overweight” rating and issued a $320.00 price objective on shares of McDonald’s in a research note on Monday, February 5th. Finally, Argus restated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 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.