Commerzbank Aktiengesellschaft FI decreased its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,708 shares of the fast-food giant’s stock after selling 2,400 shares during the quarter. McDonald’s comprises approximately 0.5% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 19th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in McDonald’s were worth $2,714,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of MCD. Covestor Ltd grew its position in shares of 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 increased its stake in McDonald’s by 7.7% in the first quarter. NewEdge Advisors LLC now owns 69,824 shares of the fast-food giant’s stock valued at $17,266,000 after purchasing an additional 5,007 shares in the last quarter. Mackenzie Financial Corp increased its stake in McDonald’s by 4.8% in the first 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 stake in McDonald’s in the first quarter worth $1,108,000. Finally, Equitable Holdings Inc. boosted its position in shares of McDonald’s by 59.7% during the first 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. 67.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on MCD shares. Loop Capital raised their price objective on McDonald’s from $346.00 to $383.00 in a research note on Friday, July 28th. Citigroup lifted their price objective on McDonald’s from $308.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Royal Bank of Canada increased their target price on McDonald’s from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Truist Financial lifted their price target on shares of McDonald’s from $327.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Jefferies Financial Group increased their price objective on shares of McDonald’s from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Five research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.17.
Insider Buying and Selling
In other McDonald’s news, EVP Marion K. Gross sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $289.52, for a total transaction of $868,560.00. Following the completion of the transaction, the executive vice president now directly owns 1,605 shares in the company, valued at $464,679.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on 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 transaction, the chief marketing officer now owns 929 shares of the company’s stock, valued at approximately $264,765. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $289.52, for a total value of $868,560.00. Following the sale, the executive vice president now owns 1,605 shares in the company, valued at approximately $464,679.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,149 shares of company stock worth $5,257,201. Corporate insiders own 0.27% of the company’s stock.
McDonald’s Price Performance
Shares of NYSE:MCD opened at $281.77 on Thursday. The company has a market capitalization of $205.34 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.71 and a beta of 0.64. The business’s 50 day simple moving average is $288.05 and its 200 day simple moving average is $285.84. McDonald’s Co. has a 1 year low of $230.58 and a 1 year high of $299.35.
McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.40. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The company had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.30 billion. During the same quarter last year, the business earned $2.55 earnings per share. McDonald’s’s revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.49 EPS for the current fiscal year.
McDonald’s Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be issued a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 31st. McDonald’s’s dividend payout ratio (DPR) is presently 55.93%.
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.
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