McDonald's Corporation (NYSE:MCD) Holdings Increased by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,639,705 shares of the fast-food giant's stock after acquiring an additional 10,420 shares during the quarter. McDonald's makes up about 4.1% of Banque Pictet & Cie SA's holdings, making the stock its 3rd largest position. Banque Pictet & Cie SA owned about 0.23% of McDonald's worth $512,195,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new stake in shares of McDonald's in the fourth quarter valued at $25,000. Atala Financial Inc bought a new stake in shares of McDonald's during the 4th quarter valued at $26,000. Abound Financial LLC bought a new stake in shares of McDonald's during the 1st quarter valued at $30,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald's during the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald's during the 1st quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors.

McDonald's Price Performance

MCD traded up $1.41 during midday trading on Friday, reaching $299.80. 4,494,100 shares of the company's stock traded hands, compared to its average volume of 3,528,540. The firm has a fifty day moving average of $304.11 and a two-hundred day moving average of $302.54. The stock has a market capitalization of $214.37 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 3.13 and a beta of 0.53. McDonald's Corporation has a 52 week low of $246.12 and a 52 week high of $326.32.

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. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the prior year, the company posted $2.70 EPS. McDonald's's quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts forecast that McDonald's Corporation will post 12.25 EPS 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%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MCD. Morgan Stanley reiterated an "equal weight" rating and set a $324.00 price objective (down from $329.00) on shares of McDonald's in a research note on Monday, June 9th. BMO Capital Markets reiterated an "outperform" rating and set a $345.00 price objective (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Erste Group Bank lowered McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Piper Sandler boosted their price objective on McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, KeyCorp reduced their target price on McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $322.29.

Insider Activity at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the transaction, the insider owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,817 shares of company stock valued at $1,165,843 in the last three months. Corporate insiders own 0.25% of the company's stock.

About McDonald's

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.