Royal Fund Management LLC Has $5.25 Million Position in McDonald’s Co. (NYSE:MCD)

Royal Fund Management LLC lessened its holdings in McDonald’s Co. (NYSE:MCD) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,584 shares of the fast-food giant’s stock after selling 430 shares during the quarter. Royal Fund Management LLC’s holdings in McDonald’s were worth $5,247,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its position in McDonald’s by 106,340.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after purchasing an additional 19,217,818 shares during the period. Geode Capital Management LLC increased its position in shares of McDonald’s by 1.5% during the first quarter. Geode Capital Management LLC now owns 13,909,126 shares of the fast-food giant’s stock worth $3,881,441,000 after buying an additional 206,651 shares during the period. Norges Bank bought a new position in McDonald’s during the fourth quarter worth $2,341,360,000. Price T Rowe Associates Inc. MD lifted its holdings in McDonald’s by 9.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,651,215 shares of the fast-food giant’s stock valued at $2,279,854,000 after buying an additional 782,066 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in McDonald’s by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,229,506 shares of the fast-food giant’s stock valued at $1,360,569,000 after acquiring an additional 45,702 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $277.71 on Tuesday. McDonald’s Co. has a fifty-two week low of $230.58 and a fifty-two week high of $299.35. The firm has a 50-day moving average of $287.27 and a 200 day moving average of $286.22. The firm has a market cap of $202.38 billion, a P/E ratio of 25.55, a PEG ratio of 2.71 and a beta of 0.64.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.40. The company had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.30 billion. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. During the same quarter last year, the business posted $2.55 EPS. McDonald’s’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts predict that McDonald’s Co. will post 11.49 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, September 1st were paid a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 31st. McDonald’s’s dividend payout ratio is currently 55.93%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 4,487 shares of the firm’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 $3,399,292.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the sale, the insider now directly owns 11,412 shares in the company, valued at $3,399,292.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Heidi B. Capozzi sold 688 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $282.54, for a total transaction of $194,387.52. Following the completion of the transaction, the executive vice president now owns 20,019 shares of the company’s stock, valued at $5,656,168.26. 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 over the last three months. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCD has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on McDonald’s in a report on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 target price for the company. KeyCorp lifted their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. Oppenheimer raised their price target on shares of McDonald’s from $315.00 to $330.00 in a report on Friday, July 28th. Wedbush reiterated an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a report on Friday, July 28th. Finally, BTIG Research raised their target price on McDonald’s from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.17.

McDonald’s Profile

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.