Cullen Investment Group LTD. Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Cullen Investment Group LTD. lowered its stake in McDonald’s Co. (NYSE:MCD) by 16.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,076 shares of the fast-food giant’s stock after selling 397 shares during the quarter. Cullen Investment Group LTD.’s holdings in McDonald’s were worth $529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Advisory Alpha LLC raised its position in McDonald’s by 11.1% in the fourth quarter. Advisory Alpha LLC now owns 2,922 shares of the fast-food giant’s stock worth $867,000 after acquiring an additional 292 shares during the period. Walkner Condon Financial Advisors LLC raised its position in shares of McDonald’s by 24.6% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 1,295 shares of the fast-food giant’s stock valued at $384,000 after purchasing an additional 256 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of McDonald’s during the 4th quarter valued at $1,229,000. Comprehensive Financial Consultants Institutional Inc. raised its position in shares of McDonald’s by 1.4% during the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,337 shares of the fast-food giant’s stock valued at $1,286,000 after purchasing an additional 60 shares during the period. Finally, Quilter Plc raised its position in shares of McDonald’s by 197.0% during the 4th quarter. Quilter Plc now owns 12,722 shares of the fast-food giant’s stock valued at $3,772,000 after purchasing an additional 8,439 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MCD. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Citigroup decreased their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday. KeyCorp reduced their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Truist Financial dropped their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $303.00.

McDonald’s Stock Up 3.0 %

Shares of NYSE MCD traded up $7.94 during trading hours on Friday, hitting $276.69. 9,585,900 shares of the stock were exchanged, compared to its average volume of 4,294,537. The company has a market cap of $199.41 billion, a PE ratio of 23.49, a PEG ratio of 3.58 and a beta of 0.71. The firm has a fifty day moving average price of $255.91 and a 200-day moving average price of $272.78. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.17 EPS. As a group, equities analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.41%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. Insiders sold a total of 5,594 shares of company stock worth $1,454,507 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

About McDonald’s

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.