Armistice Capital LLC Invests $12.50 Million in McDonald's Corporation $MCD

Key Points

• Armistice Capital LLC has invested approximately $12.5 million in McDonald's Corporation, acquiring 40,000 shares in the first quarter.
• McDonald's reported a quarterly earnings per share of $3.19, beating analysts' expectations and reflected a 5.4% year-over-year revenue growth.
• The company has announced a quarterly dividend of $1.77 per share to be paid on September 16th, with an annual yield of 2.3%.

Armistice Capital LLC acquired a new position in McDonald's Corporation (NYSE:MCD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,000 shares of the fast-food giant's stock, valued at approximately $12,495,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of McDonald's by 0.3% in the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after purchasing an additional 239,753 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of McDonald's by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the last quarter. Northern Trust Corp increased its holdings in shares of McDonald's by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after purchasing an additional 97,966 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of McDonald's by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant's stock worth $1,454,963,000 after purchasing an additional 504,085 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of McDonald's by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock worth $1,556,485,000 after purchasing an additional 815,768 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Price Performance

Shares of MCD opened at $313.68 on Friday. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The company has a 50-day moving average of $301.22 and a 200 day moving average of $306.18. The firm has a market capitalization of $223.84 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.19 and a beta of 0.52.

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

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company's stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,341 shares of company stock worth $2,229,327. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. KeyCorp reaffirmed an "overweight" rating and issued a $335.00 target price (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. TD Cowen lifted their price objective on shares of McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Truist Financial lifted their price objective on shares of McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. TD Securities reissued a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price objective for the company in a research note on Thursday, July 10th. Thirteen equities research 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's stock. According to MarketBeat, McDonald's has a consensus rating of "Hold" and an average target price of $326.38.

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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