DoubleLine ETF Adviser LP Buys Shares of 13,385 McDonald's Corporation $MCD

Key Points

• DoubleLine ETF Adviser LP acquired 13,385 shares of McDonald's Corporation valued at approximately $4.18 million, making it the firm's 17th largest holding.
• Bank of America lowered their price objective on McDonald's from $327 to $322, while Goldman Sachs upgraded the stock from "neutral" to "buy" with a target of $345.
• McDonald's announced a quarterly dividend of $1.77 per share, expected to be paid on September 16, reflecting a 2.2% yield.

DoubleLine ETF Adviser LP acquired a new stake in McDonald's Corporation (NYSE:MCD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,385 shares of the fast-food giant's stock, valued at approximately $4,181,000. McDonald's comprises approximately 1.4% of DoubleLine ETF Adviser LP's holdings, making the stock its 17th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCD. Nuveen LLC bought a new stake in McDonald's in the first quarter valued at about $1,324,961,000. GAMMA Investing LLC grew its holdings in shares of McDonald's by 39,039.7% during the first quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock valued at $1,092,645,000 after purchasing an additional 3,488,982 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of McDonald's by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of McDonald's by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock valued at $1,556,485,000 after purchasing an additional 815,768 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of McDonald's during the fourth quarter valued at approximately $211,824,000. 70.29% of the stock is owned by institutional investors.

McDonald's Stock Performance

Shares of NYSE MCD traded down $1.71 during trading on Monday, hitting $312.67. The company had a trading volume of 2,849,869 shares, compared to its average volume of 3,559,762. The company has a market cap of $223.12 billion, a P/E ratio of 26.79, a PEG ratio of 3.20 and a beta of 0.49. McDonald's Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The business's 50-day moving average is $303.87 and its 200 day moving average is $306.51.

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

McDonald's Dividend Announcement

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

Insider Buying and Selling

In other McDonald's news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business'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 directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,341 shares of company stock worth $2,544,327 over the last three months. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and set a $335.00 price objective (up from $325.00) on shares of McDonald's in a research report on Thursday, August 7th. Guggenheim restated a "neutral" rating on shares of McDonald's in a research report on Friday, August 8th. BMO Capital Markets upped their target price on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Morgan Stanley upped their target price on McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Twelve analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $325.35.

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.