Cullen Investment Group LTD. Has $583,000 Stake in McDonald’s Corporation $MCD

Cullen Investment Group LTD. decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 14.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,995 shares of the fast-food giant’s stock after selling 344 shares during the period. Cullen Investment Group LTD.’s holdings in McDonald’s were worth $583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MCD. Nuveen LLC acquired a new position in shares of McDonald’s during the 1st quarter valued at about $1,324,961,000. GAMMA Investing LLC increased its holdings in shares of McDonald’s by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after acquiring an additional 3,488,982 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of McDonald’s by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after acquiring an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of McDonald’s by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after acquiring an additional 815,768 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of McDonald’s during the 4th quarter valued at about $211,824,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 1.0%

Shares of NYSE:MCD opened at $305.49 on Friday. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The firm has a market capitalization of $218.00 billion, a PE ratio of 26.18, a PEG ratio of 3.14 and a beta of 0.50. The business’s 50 day moving average is $305.33 and its 200-day moving average is $306.57.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the firm earned $2.97 EPS. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and lowered their target price for the company from $346.00 to $315.00 in a report on Friday, June 6th. Morgan Stanley raised their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Truist Financial raised their target price on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price on the stock in a report on Thursday, July 10th. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and an average price target of $325.14.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,341 shares of company stock worth $2,544,327 over the last quarter. 0.25% of the stock is owned by company insiders.

About McDonald’s

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.