Redmond Asset Management LLC Has $1.71 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Redmond Asset Management LLC lifted its position in McDonald’s Co. (NYSE:MCD) by 428.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,900 shares of the fast-food giant’s stock after buying an additional 4,783 shares during the quarter. Redmond Asset Management LLC’s holdings in McDonald’s were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MCD. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of McDonald’s by 542.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after buying an additional 677,139 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in McDonald’s during the 3rd quarter valued at $121,254,000. Zurich Insurance Group Ltd FI raised its stake in McDonald’s by 3,580.1% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after purchasing an additional 261,350 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in McDonald’s by 26,948.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,752 shares of the fast-food giant’s stock valued at $66,023,000 after purchasing an additional 226,910 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in McDonald’s during the 4th quarter valued at $64,805,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCD has been the subject of a number of recent research reports. Loop Capital restated a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. TD Securities restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Truist Financial lowered their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Barclays upped their target price on shares of McDonald’s from $347.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,205 shares of company stock worth $6,703,569. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $304.76 on Friday. The company has a market capitalization of $218.40 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 3.10 and a beta of 0.74. The firm’s 50 day simple moving average is $292.61 and its 200 day simple moving average is $293.76. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. Equities research analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.32%. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

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.