NorthCrest Asset Manangement LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,470 shares of the fast-food giant’s stock, valued at approximately $691,000.
A number of other large investors have also modified their holdings of MCD. Osterweis Capital Management Inc. purchased a new stake in shares of McDonald’s during the fourth quarter worth $25,000. Piershale Financial Group Inc. purchased a new stake in shares of McDonald’s during the fourth quarter worth $26,000. JDM Financial Group LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in shares of McDonald’s during the first quarter worth $32,000. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of McDonald’s during the third quarter worth $33,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.
Insider Buying and Selling at McDonald’s
In other McDonald’s news, SVP Catherine A. Hoovel sold 840 shares of McDonald’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $298.77, for a total value of $250,966.80. Following the sale, the senior vice president now owns 891 shares of the company’s stock, valued at approximately $266,204.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Catherine A. Hoovel sold 840 shares of McDonald’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $298.77, for a total transaction of $250,966.80. Following the completion of the sale, the senior vice president now directly owns 891 shares in the company, valued at approximately $266,204.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jo Sempels sold 6,425 shares of McDonald’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $295.10, for a total transaction of $1,896,017.50. Following the sale, the insider now owns 730 shares of the company’s stock, valued at $215,423. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,154 shares of company stock valued at $5,032,594. 0.18% of the stock is owned by corporate insiders.
McDonald’s Trading Up 0.1 %
McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The fast-food giant reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. McDonald’s had a negative return on equity of 124.87% and a net margin of 29.36%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the previous year, the company earned $2.28 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that McDonald’s Co. will post 11.06 EPS for the current year.
McDonald’s Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Monday, June 5th were issued a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Friday, June 2nd. McDonald’s’s dividend payout ratio is presently 65.24%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on MCD shares. UBS Group upped their price objective on McDonald’s from $305.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Jefferies Financial Group increased their target price on McDonald’s from $315.00 to $320.00 in a report on Thursday, April 6th. Oppenheimer increased their target price on McDonald’s from $304.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, April 13th. Northcoast Research raised McDonald’s from a “neutral” rating to a “buy” rating and set a $321.00 target price on the stock in a report on Monday, April 10th. Finally, Piper Sandler began coverage on McDonald’s in a report on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $308.79.
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.
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