Ethic Inc. Increases Stock Position in McDonald's Corporation $MCD

Key Points

• Ethic Inc. increased its holdings in McDonald's Corporation by 10.7%, acquiring an additional 2,058 shares, bringing their total to 21,371 shares valued at approximately $6.7 million.
• McDonald's reported quarterly earnings of $3.19 per share, beating analysts' estimates, with revenue of $6.84 billion, representing a year-over-year increase of 5.4%.
• The company announced a quarterly dividend of $1.77 per share, with a yield of 2.3%, set to be paid on September 16th to investors of record.

Ethic Inc. grew its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,371 shares of the fast-food giant's stock after purchasing an additional 2,058 shares during the period. Ethic Inc.'s holdings in McDonald's were worth $6,703,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. WealthPlan Investment Management LLC increased its holdings in shares of McDonald's by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after buying an additional 32 shares during the last quarter. Granite Bay Wealth Management LLC increased its holdings in shares of McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after buying an additional 33 shares during the last quarter. CVA Family Office LLC grew its holdings in McDonald's by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after purchasing an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC grew its holdings in McDonald's by 2.5% during the 1st quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after purchasing an additional 33 shares during the last quarter. Finally, Security Financial Services INC. grew its holdings in McDonald's by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after purchasing an additional 33 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company's stock, valued at $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,280 shares of company stock valued at $2,525,178 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Loop Capital downgraded 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. KeyCorp reiterated an "overweight" rating and set a $335.00 price target (up from $325.00) on shares of McDonald's in a report on Thursday, August 7th. Piper Sandler upped their price target on shares of McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Truist Financial upped their price target on shares of McDonald's from $356.00 to $360.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, TD Securities reiterated a "hold" rating and set a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. Thirteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $326.87.

McDonald's Price Performance

MCD stock traded up $2.0640 during mid-day trading on Wednesday, reaching $312.9940. The company had a trading volume of 2,558,363 shares, compared to its average volume of 3,601,547. The company has a market capitalization of $223.35 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52. The firm has a 50 day moving average of $298.34 and a 200 day moving average of $305.35. 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 earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for 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 company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 EPS. Analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

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

McDonald's Company 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.