3Chopt Investment Partners LLC acquired a new stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,811 shares of the fast-food giant's stock, valued at approximately $2,128,000.
A number of other institutional investors have also recently made changes to their positions in the business. Mascagni Wealth Management Inc. purchased a new stake in McDonald's in the 4th quarter valued at about $25,000. Atala Financial Inc bought a new stake in shares of McDonald's during the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald's in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC grew its stake in McDonald's by 110.0% in the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in McDonald's during the 4th quarter worth $30,000. Institutional investors own 70.29% of the company's stock.
Insiders Place Their Bets
In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares of the company's stock, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 2,817 shares of company stock valued at $865,843. 0.25% of the stock is owned by company insiders.
McDonald's Stock Up 2.2%
Shares of MCD traded up $6.31 during mid-day trading on Friday, hitting $291.94. 7,416,108 shares of the company traded hands, compared to its average volume of 3,547,534. The company has a market capitalization of $208.74 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 2.98 and a beta of 0.56. The business has a 50 day moving average of $308.26 and a 200 day moving average of $302.43. McDonald's Corporation has a 1-year low of $243.53 and a 1-year high of $326.32.
McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the prior year, the business posted $2.70 EPS. McDonald's's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, research analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.
McDonald's Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. McDonald's's dividend payout ratio (DPR) is 62.49%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on MCD shares. BMO Capital Markets reiterated an "outperform" rating and issued a $345.00 target price (up from $340.00) on shares of McDonald's in a report on Monday, May 5th. Morgan Stanley restated an "equal weight" rating and issued a $324.00 price objective (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. Citigroup increased their target price on shares of McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Finally, Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $321.79.
Check Out Our Latest Stock Analysis on MCD
McDonald's Profile
(
Free Report)
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.
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