Advisors Capital Management LLC Acquires 6,057 Shares of McDonald's Corporation $MCD

Key Points

• Advisors Capital Management LLC increased its holdings in McDonald's Corporation by 3.4%, acquiring an additional 6,057 shares during the first quarter, bringing their total to 184,760 shares valued at approximately $57.7 million.
• McDonald's reported quarterly earnings of $3.19 per share, beating expectations, with revenue increasing 5.4% year-over-year to $6.84 billion.
• The company announced a quarterly dividend of $1.77, with a scheduled payment date of September 16th, leading to an annualized dividend yield of 2.3%.

Advisors Capital Management LLC grew its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 184,760 shares of the fast-food giant's stock after acquiring an additional 6,057 shares during the quarter. Advisors Capital Management LLC's holdings in McDonald's were worth $57,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. WealthPlan Investment Management LLC lifted its position in McDonald's by 0.9% during the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after purchasing an additional 32 shares during the period. Granite Bay Wealth Management LLC lifted its position in McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after purchasing an additional 33 shares during the period. CVA Family Office LLC lifted its position in McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after purchasing an additional 33 shares during the period. Consilium Wealth Advisory LLC lifted its position in McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after purchasing an additional 33 shares during the period. Finally, Security Financial Services INC. lifted its position in McDonald's by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after purchasing an additional 33 shares during the period. Institutional investors own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD Securities reaffirmed a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research report on Thursday, June 5th. Citigroup upped their price objective on shares of McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Truist Financial upped their price objective on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Bank of America lowered their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Finally, Barclays boosted their target price on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $325.14.

McDonald's Price Performance

McDonald's stock opened at $306.17 on Thursday. The business has a 50 day moving average of $304.80 and a 200-day moving average of $306.60. McDonald's Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market capitalization of $218.48 billion, a P/E ratio of 26.24, a P/E/G ratio of 3.18 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

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

Insider Transactions at McDonald's

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company's stock, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is owned by corporate insiders.

McDonald's Company 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.

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