Allstate Corp Has $6.19 Million Position in McDonald’s Co. (NYSE:MCD)

Allstate Corp raised its holdings in McDonald’s Co. (NYSE:MCD) by 2,950.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,350 shares of the fast-food giant’s stock after buying an additional 20,650 shares during the period. Allstate Corp’s holdings in McDonald’s were worth $6,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in McDonald’s during the 3rd quarter valued at about $25,000. Atala Financial Inc bought a new stake in McDonald’s during the fourth quarter worth $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s in the 4th quarter valued at $27,000. Collier Financial bought a new position in McDonald’s during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC grew its stake in shares of McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Tiffanie L. Boyd sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total value of $309,270.00. Following the sale, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at $1,720,778.28. This trade represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,405 shares of company stock worth $9,886,656. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $306.95 on Friday. The stock has a market capitalization of $219.31 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $326.32. The stock’s 50-day simple moving average is $301.52 and its 200 day simple moving average is $298.10.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS 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%. On average, research analysts forecast that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.77 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.31%. McDonald’s’s payout ratio is currently 62.16%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MCD shares. Erste Group Bank raised shares of McDonald’s from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Robert W. Baird boosted their target price on McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Wedbush increased their price target on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. KeyCorp boosted their price objective on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets raised their target price on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Company Profile

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.