Capital World Investors lifted its holdings in McDonald’s Co. (NYSE:MCD – Get Rating) by 91.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,472,924 shares of the fast-food giant’s stock after acquiring an additional 2,136,776 shares during the period. Capital World Investors’ holdings in McDonald’s were worth $1,106,065,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Artemis Wealth Advisors LLC bought a new stake in shares of McDonald’s during the first quarter valued at approximately $28,000. Castle Financial & Retirement Planning Associates Inc. purchased a new position in McDonald’s in the fourth quarter worth $34,000. Conrad Siegel Investment Advisors Inc. acquired a new stake in shares of McDonald’s during the first quarter worth $37,000. Rational Advisors LLC lifted its stake in shares of McDonald’s by 60.6% during the first quarter. Rational Advisors LLC now owns 159 shares of the fast-food giant’s stock worth $39,000 after buying an additional 60 shares during the period. Finally, Covestor Ltd acquired a new position in McDonald’s during the fourth quarter valued at $54,000. Institutional investors own 67.27% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Robert W. Baird set a $285.00 price objective on shares of McDonald’s in a research report on Tuesday, July 19th. KeyCorp increased their price target on shares of McDonald’s from $285.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Jefferies Financial Group decreased their price objective on shares of McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Credit Suisse Group increased their target price on shares of McDonald’s from $285.00 to $287.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Sanford C. Bernstein began coverage on shares of McDonald’s in a research report on Wednesday, September 7th. They issued a “market perform” rating and a $267.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.04.
McDonald’s Stock Up 0.5 %
McDonald’s (NYSE:MCD – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.82 billion. McDonald’s had a net margin of 25.77% and a negative return on equity of 129.90%. McDonald’s’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.37 earnings per share. On average, equities analysts forecast that McDonald’s Co. will post 9.83 EPS for the current fiscal year.
McDonald’s Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, September 1st will be given a dividend of $1.38 per share. The ex-dividend date is Wednesday, August 31st. This represents a $5.52 dividend on an annualized basis and a yield of 2.16%. McDonald’s’s dividend payout ratio (DPR) is 67.98%.
Insider Buying and Selling at McDonald’s
In other news, insider Ian Frederick Borden sold 8,000 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.80, for a total transaction of $2,046,400.00. Following the transaction, the insider now directly owns 7,131 shares of the company’s stock, valued at $1,824,109.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Catherine A. Hoovel sold 2,371 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the transaction, the senior vice president now directly owns 1,184 shares of the company’s stock, valued at $302,654.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ian Frederick Borden sold 8,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.80, for a total transaction of $2,046,400.00. Following the completion of the sale, the insider now directly owns 7,131 shares in the company, valued at $1,824,109.80. The disclosure for this sale can be found here. Insiders have sold a total of 20,191 shares of company stock valued at $5,250,365 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.
McDonald’s Company Profile
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
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