New York Life Investment Management LLC Has $30.59 Million Holdings in McDonald’s Co. (NYSE:MCD)

New York Life Investment Management LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,171 shares of the fast-food giant’s stock after selling 18,734 shares during the quarter. New York Life Investment Management LLC’s holdings in McDonald’s were worth $30,591,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd increased its stake in McDonald’s by 3.7% in the 4th quarter. Y.D. More Investments Ltd now owns 4,836 shares of the fast-food giant’s stock valued at $1,433,000 after buying an additional 171 shares during the period. RB Capital Management LLC increased its stake in McDonald’s by 2.0% in the 4th quarter. RB Capital Management LLC now owns 6,431 shares of the fast-food giant’s stock valued at $1,907,000 after buying an additional 124 shares during the period. Concord Wealth Partners increased its stake in McDonald’s by 26.8% in the 4th quarter. Concord Wealth Partners now owns 6,257 shares of the fast-food giant’s stock valued at $1,855,000 after buying an additional 1,323 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in McDonald’s in the 4th quarter valued at approximately $61,000. Finally, ICW Investment Advisors LLC increased its stake in McDonald’s by 0.4% in the 4th quarter. ICW Investment Advisors LLC now owns 9,548 shares of the fast-food giant’s stock valued at $2,831,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock traded up $1.39 during mid-day trading on Wednesday, reaching $274.43. The company’s stock had a trading volume of 4,843,040 shares, compared to its average volume of 3,332,154. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $302.39. The company has a market cap of $197.87 billion, a P/E ratio of 23.46, a PEG ratio of 2.99 and a beta of 0.71. The firm’s 50-day moving average is $280.92 and its two-hundred day moving average is $282.33.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the company posted $2.63 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 12.34 EPS for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio (DPR) is currently 57.74%.

Analyst Upgrades and Downgrades

MCD has been the topic of several analyst reports. KeyCorp dropped their price target on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a research note on Wednesday. Robert W. Baird dropped their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen restated a “buy” rating and set a $305.00 price target on shares of McDonald’s in a research note on Tuesday. Citigroup dropped their price target on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, Truist Financial dropped their price target on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $317.37.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Friday, March 22nd. The shares were 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 in the company, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Friday, March 22nd. The shares were 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 in the company, valued at approximately $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now 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. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Company 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.