Blodgett Wealth Advisors LLC Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Blodgett Wealth Advisors LLC decreased its stake in McDonald’s Co. (NYSE:MCD) by 31.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,295 shares of the fast-food giant’s stock after selling 1,500 shares during the period. McDonald’s accounts for 1.0% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Blodgett Wealth Advisors LLC’s holdings in McDonald’s were worth $977,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Callan Capital LLC lifted its stake in shares of McDonald’s by 11.3% during the fourth quarter. Callan Capital LLC now owns 1,400 shares of the fast-food giant’s stock valued at $415,000 after buying an additional 142 shares during the period. First Fiduciary Investment Counsel Inc. grew its holdings in shares of McDonald’s by 11.1% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 1,000 shares of the fast-food giant’s stock valued at $297,000 after acquiring an additional 100 shares in the last quarter. Jackson Hole Capital Partners LLC increased its stake in shares of McDonald’s by 13.5% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 10,167 shares of the fast-food giant’s stock worth $3,015,000 after acquiring an additional 1,210 shares during the last quarter. Syon Capital LLC raised its holdings in shares of McDonald’s by 19.2% during the fourth quarter. Syon Capital LLC now owns 5,915 shares of the fast-food giant’s stock worth $1,754,000 after acquiring an additional 951 shares in the last quarter. Finally, Meritage Portfolio Management boosted its position in McDonald’s by 7.3% during the fourth quarter. Meritage Portfolio Management now owns 34,451 shares of the fast-food giant’s stock valued at $10,215,000 after purchasing an additional 2,346 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research reports. Morgan Stanley reduced their price target on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. UBS Group decreased their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a report on Friday, April 5th. Argus reiterated a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. Stephens restated an “overweight” rating and issued a $320.00 target price on shares of McDonald’s in a report on Monday, February 5th. Finally, BTIG Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $318.41.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. 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 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 transaction, the insider now owns 18,075 shares in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded down $2.51 during trading on Friday, reaching $273.09. The stock had a trading volume of 3,636,458 shares, compared to its average volume of 3,338,426. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The firm’s fifty day moving average is $281.68 and its 200 day moving average is $281.53. The stock has a market cap of $196.90 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 3.01 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.12. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the company posted $2.59 EPS. On average, research analysts forecast that McDonald’s Co. will post 12.34 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio is presently 57.74%.

McDonald’s 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.