Brookstone Capital Management Acquires 3,120 Shares of McDonald's Corporation (NYSE:MCD)

Brookstone Capital Management raised its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,012 shares of the fast-food giant's stock after purchasing an additional 3,120 shares during the period. Brookstone Capital Management's holdings in McDonald's were worth $23,744,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald's in the 4th quarter worth about $25,000. Atala Financial Inc purchased a new stake in McDonald's in the fourth quarter worth about $26,000. Pinney & Scofield Inc. bought a new position in shares of McDonald's during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC increased its stake in shares of McDonald's by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of McDonald's during the fourth quarter valued at approximately $30,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MCD shares. Argus cut McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Truist Financial set a $350.00 price objective on shares of McDonald's in a research note on Friday, May 2nd. Robert W. Baird upped their price objective on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, TD Securities reiterated a "hold" rating and set a $305.00 target price on shares of McDonald's in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $321.17.

Insider Activity at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $288.52, for a total value of $270,920.28. Following the sale, the insider directly owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 2,817 shares of company stock worth $865,843. 0.25% of the stock is owned by corporate insiders.

McDonald's Trading Down 0.3%

Shares of MCD opened at $293.80 on Friday. The business's 50 day moving average is $306.57 and its 200 day moving average is $302.37. McDonald's Corporation has a 12-month low of $243.53 and a 12-month high of $326.32. The company has a market capitalization of $210.08 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53.

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

McDonald's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's payout ratio is currently 62.49%.

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.

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