Peregrine Asset Advisers Inc. Sells 120 Shares of McDonald’s Co. (NYSE:MCD)

Peregrine Asset Advisers Inc. trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 4.7% in the 4th quarter, Holdings Channel reports. The fund owned 2,407 shares of the fast-food giant’s stock after selling 120 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in McDonald’s were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. McAdam LLC raised its position in shares of McDonald’s by 1.7% during the third quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock valued at $663,000 after buying an additional 36 shares during the last quarter. IFM Investors Pty Ltd increased its stake in McDonald’s by 0.9% during the third quarter. IFM Investors Pty Ltd now owns 144,529 shares of the fast-food giant’s stock valued at $44,011,000 after acquiring an additional 1,333 shares during the period. Valicenti Advisory Services Inc. raised its holdings in McDonald’s by 27.9% in the 3rd quarter. Valicenti Advisory Services Inc. now owns 11,679 shares of the fast-food giant’s stock valued at $3,556,000 after acquiring an additional 2,547 shares in the last quarter. DT Investment Partners LLC lifted its position in shares of McDonald’s by 2.8% in the 3rd quarter. DT Investment Partners LLC now owns 4,610 shares of the fast-food giant’s stock worth $1,404,000 after acquiring an additional 126 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of McDonald’s by 52.4% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 5,288 shares of the fast-food giant’s stock worth $1,610,000 after purchasing an additional 1,818 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.6 %

McDonald’s stock opened at $304.76 on Friday. The stock has a 50-day simple moving average of $292.61 and a 200 day simple moving average of $293.76. The stock has a market capitalization of $218.40 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 3.09 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, sell-side analysts anticipate that McDonald’s Co. 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 Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio is 62.16%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent research reports. TD Securities restated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Monday, February 10th. Truist Financial dropped their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Robert W. Baird raised their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Bank of America upped their target price on shares of McDonald’s from $312.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Finally, Wedbush raised their price target on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. 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 1,099 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the transaction, the insider now owns 8,187 shares in the company, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,205 shares of company stock valued at $6,703,569. 0.23% of the stock is currently owned by corporate 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.