DnB Asset Management AS Has $58.69 Million Holdings in McDonald's Corporation $MCD

Key Points

• DnB Asset Management AS increased its holdings in McDonald's Corporation by 26.0% in the first quarter, bringing their total to 187,886 shares valued at approximately $58.69 million.
• Several other large investors, including Vanguard Group and Goldman Sachs, also raised their positions in McDonald's, which is predominantly owned (70.29%) by institutional investors.
• McDonald’s reported a quarterly earnings per share of $3.19, surpassing analyst expectations of $3.15, alongside a revenue of $6.84 billion for the quarter.

DnB Asset Management AS grew its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 26.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,886 shares of the fast-food giant's stock after buying an additional 38,780 shares during the quarter. DnB Asset Management AS's holdings in McDonald's were worth $58,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in McDonald's during the 4th quarter worth about $25,000. Abound Financial LLC bought a new stake in shares of McDonald's in the 1st quarter valued at about $30,000. Pinney & Scofield Inc. bought a new stake in shares of McDonald's in the 4th quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new stake in shares of McDonald's in the 1st quarter valued at about $31,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of McDonald's in the 1st quarter valued at about $31,000. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research analyst reports. TD Cowen upped their target price on shares of McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. Melius initiated coverage on shares of McDonald's in a report on Monday, July 14th. They issued a "sell" rating and a $250.00 target price on the stock. Citigroup upped their target price on shares of McDonald's from $364.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Bank of America dropped their target price 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, Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, McDonald's has a consensus rating of "Hold" and an average target price of $325.35.

McDonald's Trading Down 0.5%

MCD stock traded down $1.71 during mid-day trading on Monday, hitting $312.67. 2,849,869 shares of the company were exchanged, compared to its average volume of 3,559,762. The business has a 50 day simple moving average of $303.87 and a 200-day simple moving average of $306.51. The stock has a market capitalization of $223.12 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 3.20 and a beta of 0.49. McDonald's Corporation has a 1-year low of $276.53 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $2.97 earnings per share. Equities research analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald's's dividend payout ratio 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.