Allworth Financial LP Buys 1,450 Shares of McDonald's Corporation (NYSE:MCD)

Allworth Financial LP raised its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,007 shares of the fast-food giant's stock after purchasing an additional 1,450 shares during the period. Allworth Financial LP's holdings in McDonald's were worth $14,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCD. Vanguard Group Inc. raised its position in McDonald's by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant's stock valued at $20,341,391,000 after purchasing an additional 526,466 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of McDonald's by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant's stock worth $4,652,768,000 after buying an additional 157,458 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of McDonald's by 5.2% during the 4th quarter. Capital Research Global Investors now owns 10,652,445 shares of the fast-food giant's stock worth $3,088,037,000 after buying an additional 531,070 shares in the last quarter. Norges Bank bought a new stake in shares of McDonald's during the 4th quarter worth $2,725,190,000. Finally, Northern Trust Corp boosted its stake in McDonald's by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after buying an additional 895,896 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of research reports. Barclays increased their price target on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley restated an "equal weight" rating and set a $324.00 price target (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. Piper Sandler raised their price objective on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $322.29.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm'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 transaction 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 trade represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares in the company, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,817 shares of company stock valued at $1,165,843. 0.25% of the stock is currently owned by company insiders.

McDonald's Stock Performance

MCD traded up $1.41 on Friday, hitting $299.80. 4,494,100 shares of the company were exchanged, compared to its average volume of 3,532,598. McDonald's Corporation has a 12 month low of $246.12 and a 12 month high of $326.32. The firm has a fifty day simple moving average of $304.35 and a two-hundred day simple moving average of $302.44. The stock has a market capitalization of $214.37 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts' consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. McDonald's's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.70 EPS. On average, equities analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is currently 62.49%.

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.