Levin Capital Strategies L.P. has notably reduced its investment in McDonald’s Corporation, as indicated by a recent 13F filing with the Securities and Exchange Commission. In the first quarter, the firm cut its holdings by 45.9%, resulting in ownership of 1,195 shares after selling 1,013 shares during the period. As of the latest filing, these shares were valued at approximately $373,000.
Other institutional investors have also recently adjusted their stakes in McDonald’s. Granite Bay Wealth Management LLC has increased its holdings by 3.5%, now owning 988 shares valued at $309,000, while CVA Family Office LLC raised its stake by 1.9%, bringing its total to 1,793 shares worth $560,000. Additionally, Consilium Wealth Advisory LLC and Security Financial Services Inc. reported increases in their positions by 2.5% and 0.7%, respectively. Currently, hedge funds and institutional investors control about 70.29% of McDonald’s stock.
This adjustment in holdings coincides with insider trading activities, where CMO Edith Morgan Flatley sold 1,000 shares for $300,000, representing a 10.14% decrease in her stake. Other insiders, like Joseph M. Erlinger, also sold shares, contributing to a total of 4,793 shares being sold worth $1.44 million over the past three months. Insiders maintain ownership of 0.25% of the company’s stock.
Analysts have mixed views regarding McDonald’s stock, reflecting a diverse outlook. Recent reports show Northcoast Research downgrading its rating from “buy” to “neutral,” while Melius initiated coverage with a “sell” rating and a $250 target price. Conversely, Truist Financial and Citigroup have raised their price targets for McDonald’s, indicating confidence in its potential performance.
As of recent trading, McDonald’s shares opened at $304.40, underlining its strong market presence with a capitalization of $217.66 billion. The company has declared a quarterly dividend of $1.77 per share, signaling a commitment to returning value to shareholders, which corresponds to a yield of 2.3%.
Overall, while there are adjustments in investment from both institutional and insider positions, McDonald’s continues to maintain a robust market presence and a commitment to rewarding shareholders through dividends. Despite varied analyst ratings, the resilience of its stock and ongoing operations suggest a potential for continued growth and stability in the fast-food industry.