Summit Place Financial Advisors LLC lifted its holdings in McDonald’s Corporation (NYSE:MCD – Free Report) by 5.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 731 shares of the fast-food giant’s stock after buying an additional 37 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in McDonald’s were worth $214,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the business. Aberdeen Group plc lifted its position in shares of McDonald’s by 4.8% in the 2nd quarter. Aberdeen Group plc now owns 537,380 shares of the fast-food giant’s stock worth $156,861,000 after buying an additional 24,736 shares during the last quarter. First Fiduciary Investment Counsel Inc. lifted its position in shares of McDonald’s by 1.8% in the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 34,061 shares of the fast-food giant’s stock worth $9,952,000 after buying an additional 602 shares during the last quarter. Strong Tower Advisory Services lifted its position in shares of McDonald’s by 5.2% in the 2nd quarter. Strong Tower Advisory Services now owns 8,547 shares of the fast-food giant’s stock worth $2,497,000 after buying an additional 425 shares during the last quarter. PDS Planning Inc lifted its position in shares of McDonald’s by 3.1% in the 2nd quarter. PDS Planning Inc now owns 4,229 shares of the fast-food giant’s stock worth $1,236,000 after buying an additional 128 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of McDonald’s by 8.2% in the 2nd quarter. Blue Trust Inc. now owns 16,711 shares of the fast-food giant’s stock worth $4,882,000 after buying an additional 1,262 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on MCD shares. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Friday, August 22nd. Truist Financial lifted their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Bank of America cut their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Finally, Morgan Stanley lifted their price objective on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $325.18.
McDonald’s Trading Up 1.1%
McDonald’s stock opened at $297.07 on Friday. The stock has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.09 and a beta of 0.50. The company’s 50-day moving average price is $306.31 and its two-hundred day moving average price is $305.79. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.
McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $2.97 EPS. Research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.
McDonald’s Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.
Insider Activity at McDonald’s
In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,402 shares of company stock worth $1,973,407 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.
McDonald’s Company Profile
McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.
Read More
- Five stocks we like better than McDonald’s
- How to trade using analyst ratings
- 3 Heavily Shorted Stocks That Could Pop on Rate Cuts
- What is the NASDAQ Stock Exchange?
- Broadcom Gets Second $420 Target as CPO Win Boosts Outlook
- Breakout Stocks: What They Are and How to Identify Them
- PepsiCo’s Deep Discount Will Soon Evaporate: Buy It While You Can
Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Corporation (NYSE:MCD – Free Report).
Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.