Jennison Associates LLC Has $60.25 Million Stake in McDonald's Corporation (NYSE:MCD)

Jennison Associates LLC lessened its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,889 shares of the fast-food giant's stock after selling 8,672 shares during the quarter. Jennison Associates LLC's holdings in McDonald's were worth $60,253,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in McDonald's in the fourth quarter valued at $25,000. Pinney & Scofield Inc. purchased a new position in shares of McDonald's during the fourth quarter worth about $29,000. GKV Capital Management Co. Inc. purchased a new position in shares of McDonald's during the fourth quarter worth about $30,000. Abound Financial LLC purchased a new position in shares of McDonald's during the first quarter worth about $30,000. Finally, Copia Wealth Management purchased a new position in shares of McDonald's during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insider Transactions at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the transaction, the insider owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This trade represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,817 shares of company stock valued at $1,165,843. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCD. Bank of America dropped their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday. Loop Capital lowered McDonald's from a "buy" rating to a "hold" rating and lowered their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. Melius assumed coverage on McDonald's in a research note on Monday, July 14th. They set a "sell" rating and a $250.00 price objective for the company. Redburn Atlantic reaffirmed a "sell" rating and set a $260.00 price objective (down from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Finally, Barclays boosted their target price on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and a consensus target price of $319.72.

McDonald's Stock Performance

MCD stock traded down $3.50 on Friday, reaching $296.87. The company had a trading volume of 3,477,177 shares, compared to its average volume of 3,528,220. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The company has a market cap of $212.27 billion, a P/E ratio of 26.20, a PEG ratio of 3.07 and a beta of 0.53. The company's fifty day moving average is $302.50 and its 200 day moving average is $302.72.

McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts' consensus estimates of $2.67. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.70 EPS. On average, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.38%. McDonald's's dividend payout ratio is currently 62.49%.

McDonald's 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.