Red Cedar Investment Management LLC Purchases 291 Shares of McDonald’s Co. (NYSE:MCD)

Red Cedar Investment Management LLC boosted its holdings in McDonald’s Co. (NYSE:MCD) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,781 shares of the fast-food giant’s stock after purchasing an additional 291 shares during the quarter. McDonald’s comprises approximately 0.7% of Red Cedar Investment Management LLC’s investment portfolio, making the stock its 23rd largest holding. Red Cedar Investment Management LLC’s holdings in McDonald’s were worth $4,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Signature Resources Capital Management LLC purchased a new stake in McDonald’s in the 4th quarter valued at $31,000. Blue Bell Private Wealth Management LLC increased its stake in McDonald’s by 51.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in shares of McDonald’s during the 3rd quarter worth approximately $33,000. Keener Financial Planning LLC purchased a new position in shares of McDonald’s in the 4th quarter worth approximately $39,000. Finally, Bear Mountain Capital Inc. bought a new position in shares of McDonald’s in the fourth quarter valued at approximately $43,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction 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 1,098 shares of McDonald’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the transaction, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

McDonald’s Stock Down 1.1 %

Shares of NYSE MCD traded down $2.96 during midday trading on Friday, reaching $270.32. The company had a trading volume of 2,642,344 shares, compared to its average volume of 3,812,742. The firm’s fifty day moving average price is $279.53 and its 200-day moving average price is $282.35. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39. The stock has a market cap of $194.90 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 2.91 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same period last year, the company posted $2.63 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts expect that McDonald’s Co. will post 12.18 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.47%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research reports. Royal Bank of Canada lowered their price target on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Argus reiterated a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. UBS Group dropped their price target on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. TD Cowen reiterated a “buy” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Tuesday, April 30th. Finally, Truist Financial lowered their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $317.74.

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.