Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,008,524 shares of the fast-food giant’s stock after selling 6,917 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.28% of McDonald’s worth $582,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the third quarter worth $25,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McDonald’s in the 3rd quarter valued at about $31,000. Hara Capital LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at about $44,000. Financial Life Planners bought a new position in shares of McDonald’s in the fourth quarter worth approximately $49,000. Finally, Peterson Financial Group Inc. purchased a new stake in McDonald’s in the third quarter valued at approximately $58,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 1.9 %

NYSE:MCD opened at $294.37 on Friday. The company has a 50-day moving average price of $290.75 and a 200-day moving average price of $290.37. The stock has a market cap of $210.95 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.83 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 Announces Dividend

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 given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.41%. McDonald’s’s payout ratio is 62.16%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now directly owns 9,286 shares in the company, valued at $2,716,155. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,406 shares of company stock worth $2,150,857. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCD. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and cut their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Morgan Stanley reduced their target price on McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Piper Sandler lowered their price target on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company upped their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, KeyCorp decreased their price objective on McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $318.86.

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.