DNB Asset Management AS boosted its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,089 shares of the fast-food giant’s stock after acquiring an additional 18,467 shares during the quarter. DNB Asset Management AS’s holdings in McDonald’s were worth $56,724,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Osterweis Capital Management Inc. bought a new position in shares of McDonald’s in the fourth quarter worth about $25,000. Aspire Private Capital LLC purchased a new stake in McDonald’s in the 1st quarter valued at about $26,562,950,000. Grey Fox Wealth Advisors LLC grew its stake in McDonald’s by 102.0% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock worth $28,000 after acquiring an additional 51 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of McDonald’s during the first quarter worth approximately $32,000. Finally, Retirement Group LLC bought a new stake in shares of McDonald’s during the fourth quarter valued at approximately $37,000. Institutional investors own 67.60% of the company’s stock.
Insider Transactions at McDonald’s
In related news, CEO Christopher J. Kempczinski sold 5,606 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $280.00, for a total transaction of $1,569,680.00. Following the completion of the transaction, the chief executive officer now directly owns 29,031 shares in the company, valued at $8,128,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 5,606 shares of McDonald’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $280.00, for a total transaction of $1,569,680.00. Following the completion of the transaction, the chief executive officer now directly owns 29,031 shares in the company, valued at $8,128,680. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 4,487 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were 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 disclosure for this sale can be found here. Insiders have sold 23,755 shares of company stock worth $6,826,881 over the last 90 days. 0.18% of the stock is currently owned by company insiders.
McDonald’s Price Performance
McDonald’s (NYSE:MCD – Get Free Report) last released its 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 firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.30 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. As a group, equities research analysts expect that McDonald’s Co. will post 11.52 earnings per share for the current year.
McDonald’s Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 1st were issued a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 31st. McDonald’s’s dividend payout ratio (DPR) is currently 55.93%.
Wall Street Analysts Forecast Growth
MCD has been the topic of several research analyst reports. Truist Financial dropped their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley raised their price target on McDonald’s from $315.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. TD Cowen reaffirmed an “outperform” rating and issued a $340.00 price objective on shares of McDonald’s in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, Loop Capital upped their price target on shares of McDonald’s from $346.00 to $383.00 in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $323.63.
Check Out Our Latest Research Report on McDonald’s
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.
Read More
- Five stocks we like better than McDonald’s
- How to Invest in Growth Stocks
- Are These Consumer Staples Too Cheap for Investors To Ignore?
- How Investors Can Identify and Successfully Trade Gap-Up Stocks
- 3 ETFs for the Conservative Investor to Buy and Hold
- How to Invest in Renewable Energy
- Markets Are Loving These Stocks ‘Firing On All Cylinders’
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.
