ELCO Management Co. LLC Has $1.22 Million Position in McDonald’s Co. (NYSE:MCD)

ELCO Management Co. LLC lifted its position in McDonald’s Co. (NYSE:MCD) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,362 shares of the fast-food giant’s stock after acquiring an additional 65 shares during the period. McDonald’s makes up approximately 0.9% of ELCO Management Co. LLC’s holdings, making the stock its 29th biggest holding. ELCO Management Co. LLC’s holdings in McDonald’s were worth $1,220,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd raised its stake in McDonald’s by 103.4% during the 1st quarter. Covestor Ltd now owns 413 shares of the fast-food giant’s stock worth $102,000 after buying an additional 210 shares during the period. NewEdge Advisors LLC raised its position in shares of McDonald’s by 7.7% during the first quarter. NewEdge Advisors LLC now owns 69,824 shares of the fast-food giant’s stock worth $17,266,000 after purchasing an additional 5,007 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of McDonald’s by 4.8% during the 1st quarter. Mackenzie Financial Corp now owns 516,408 shares of the fast-food giant’s stock valued at $127,697,000 after purchasing an additional 23,643 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of McDonald’s in the 1st quarter valued at approximately $1,108,000. Finally, Equitable Holdings Inc. increased its stake in McDonald’s by 59.7% during the 1st quarter. Equitable Holdings Inc. now owns 9,338 shares of the fast-food giant’s stock worth $2,309,000 after purchasing an additional 3,490 shares in the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

McDonald’s Stock Up 0.3 %

Shares of NYSE MCD traded up $0.89 during mid-day trading on Friday, reaching $279.22. 2,351,438 shares of the company were exchanged, compared to its average volume of 2,288,916. The stock has a market capitalization of $203.49 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.71 and a beta of 0.64. The company’s 50-day simple moving average is $288.64 and its 200-day simple moving average is $285.51. McDonald’s Co. has a twelve month low of $230.58 and a twelve month high of $299.35.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.40. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.30 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business’s revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that McDonald’s Co. will post 11.49 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be paid a $1.52 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $6.08 annualized dividend and a yield of 2.18%. McDonald’s’s dividend payout ratio (DPR) is presently 55.93%.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $285.00, for a total value of $285,000.00. Following the completion of the sale, the chief marketing officer now owns 929 shares of the company’s stock, valued at $264,765. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $297.87, for a total value of $1,336,542.69. Following the completion of the transaction, the insider now directly owns 11,412 shares of the company’s stock, valued at approximately $3,399,292.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $285.00, for a total value of $285,000.00. Following the sale, the chief marketing officer now directly owns 929 shares in the company, valued at $264,765. The disclosure for this sale can be found here. Insiders have sold a total of 18,149 shares of company stock valued at $5,257,201 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCD. Oppenheimer lifted their price target on shares of McDonald’s from $315.00 to $330.00 in a research note on Friday, July 28th. Citigroup increased their target price on McDonald’s from $308.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Piper Sandler assumed coverage on McDonald’s in a report on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 price target on the stock. Morgan Stanley upped their price objective on McDonald’s from $315.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Finally, KeyCorp lifted their target price on McDonald’s from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. Five analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $322.33.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.