Accuvest Global Advisors Takes Position in McDonald's Corporation (NYSE:MCD)

Key Points

• Accuvest Global Advisors has purchased 6,070 shares of McDonald's Corporation valued at approximately $1,896,000, making it the institutional investor's 18th largest holding.
• McDonald's recently reported a quarterly EPS of $3.19, exceeding expectations, with revenue increasing by 5.4% year-over-year to $6.84 billion.
• The company announced a quarterly dividend of $1.77 per share, representing an annual yield of 2.3% and a payout ratio of 62.49%.

Accuvest Global Advisors acquired a new stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,070 shares of the fast-food giant's stock, valued at approximately $1,896,000. McDonald's makes up about 1.6% of Accuvest Global Advisors' investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in McDonald's by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock valued at $1,092,645,000 after acquiring an additional 3,488,982 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of McDonald's during the 4th quarter valued at $350,935,000. Northern Trust Corp increased its position in shares of McDonald's by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after purchasing an additional 895,896 shares during the period. Goldman Sachs Group Inc. increased its position in shares of McDonald's by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after purchasing an additional 815,768 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of McDonald's during the 4th quarter valued at $211,824,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Stock Down 0.7%

Shares of NYSE:MCD traded down $2.29 on Friday, reaching $305.62. The company had a trading volume of 2,621,959 shares, compared to its average volume of 3,681,905. McDonald's Corporation has a twelve month low of $265.33 and a twelve month high of $326.32. The stock has a 50-day moving average price of $298.57 and a 200 day moving average price of $304.33. The stock has a market capitalization of $218.09 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.21 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%. The company had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is currently 60.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCD. TD Cowen raised their price objective on McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday. KeyCorp reiterated an "overweight" rating and issued a $335.00 target price (up from $325.00) on shares of McDonald's in a report on Thursday. Evercore ISI boosted their price target on shares of McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Friday. Piper Sandler boosted their price target on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Citigroup boosted their price target on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $326.87.

Insider Buying and Selling

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares of the company's stock, valued at $2,657,400. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,280 shares of company stock valued at $2,215,178. Insiders own 0.25% of the company's stock.

McDonald's 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.