Berkshire Asset Management LLC PA Boosts Stock Holdings in McDonald's Corporation $MCD

Key Points

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Berkshire Asset Management LLC PA boosted its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 129,783 shares of the fast-food giant's stock after purchasing an additional 1,467 shares during the quarter. McDonald's comprises 1.9% of Berkshire Asset Management LLC PA's portfolio, making the stock its 15th largest position. Berkshire Asset Management LLC PA's holdings in McDonald's were worth $40,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald's during the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. purchased a new stake in shares of McDonald's during the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in shares of McDonald's during the first quarter valued at approximately $30,000. Copia Wealth Management purchased a new stake in shares of McDonald's during the fourth quarter valued at approximately $31,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald's during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent analyst reports. Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and cut their price target for the company from $346.00 to $315.00 in a report on Friday, June 6th. Northcoast Research cut shares of McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. KeyCorp reiterated an "overweight" rating and set a $335.00 price target (up previously from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Bank of America cut their price target on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, Melius began coverage on shares of McDonald's in a report on Monday, July 14th. They set a "sell" rating and a $250.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, McDonald's presently has a consensus rating of "Hold" and an average price target of $326.38.

Insider Buying and Selling 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 value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm's stock in a transaction 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 owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,341 shares of company stock valued at $2,229,327 over the last three months. Insiders own 0.25% of the company's stock.

McDonald's Price Performance

McDonald's stock traded up $0.5810 during midday trading on Friday, reaching $313.8010. 2,796,690 shares of the company traded hands, compared to its average volume of 3,596,846. The firm has a market capitalization of $223.93 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 3.19 and a beta of 0.52. The business has a 50 day moving average of $298.77 and a two-hundred day moving average of $305.56. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.77 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

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.