Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of McDonald's Corporation (NYSE:MCD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,655 shares of the fast-food giant's stock, valued at approximately $1,117,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Encompass More Asset Management boosted its holdings in McDonald's by 1.5% during the fourth quarter. Encompass More Asset Management now owns 2,120 shares of the fast-food giant's stock worth $648,000 after purchasing an additional 32 shares during the last quarter. Physician Wealth Advisors Inc. boosted its holdings in McDonald's by 1.6% during the fourth quarter. Physician Wealth Advisors Inc. now owns 2,102 shares of the fast-food giant's stock worth $642,000 after purchasing an additional 33 shares during the last quarter. CFO4Life Group LLC boosted its holdings in McDonald's by 2.1% during the third quarter. CFO4Life Group LLC now owns 1,669 shares of the fast-food giant's stock worth $507,000 after purchasing an additional 34 shares during the last quarter. American National Bank of Texas boosted its holdings in McDonald's by 2.9% during the fourth quarter. American National Bank of Texas now owns 1,191 shares of the fast-food giant's stock worth $364,000 after purchasing an additional 34 shares during the last quarter. Finally, Parvin Asset Management LLC boosted its holdings in McDonald's by 3.8% during the third quarter. Parvin Asset Management LLC now owns 929 shares of the fast-food giant's stock worth $282,000 after purchasing an additional 34 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on MCD shares. Argus upgraded shares of McDonald's from a "hold" rating to a "buy" rating and set a $380.00 price target on the stock in a report on Friday, February 13th. Tigress Financial boosted their price target on shares of McDonald's from $360.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, March 6th. KeyCorp cut their price target on shares of McDonald's from $345.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada cut their price target on shares of McDonald's from $330.00 to $305.00 and set a "sector perform" rating on the stock in a report on Friday, May 8th. Finally, TD Cowen dropped their target price on shares of McDonald's from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $334.45.
Get Our Latest Research Report on McDonald's
McDonald's Stock Down 0.6%
MCD opened at $282.48 on Friday. The stock has a market cap of $200.70 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.81 and a beta of 0.43. McDonald's Corporation has a twelve month low of $271.98 and a twelve month high of $341.75. The company's 50-day moving average price is $299.71 and its two-hundred day moving average price is $309.25.
McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.09. The firm had revenue of $6.52 billion for the quarter, compared to analysts' expectations of $6.47 billion. McDonald's had a net margin of 31.62% and a negative return on equity of 442.10%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.67 earnings per share. As a group, sell-side analysts anticipate that McDonald's Corporation will post 12.93 earnings per share for the current year.
McDonald's Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 2nd. McDonald's's dividend payout ratio is presently 61.34%.
Key Headlines Impacting McDonald's
Here are the key news stories impacting McDonald's this week:
Insider Buying and Selling
In related news, insider Joseph M. Erlinger sold 333 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $302.72, for a total transaction of $100,805.76. Following the sale, the insider directly owned 8,067 shares in the company, valued at approximately $2,442,042.24. This represents a 3.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 6,201 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $333.29, for a total transaction of $2,066,731.29. Following the sale, the executive vice president owned 2,291 shares in the company, valued at $763,567.39. The trade was a 73.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,119 shares of company stock worth $3,945,973 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.
About McDonald's
(
Free Report)
McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.
Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.
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