Fortis Group Advisors LLC Acquires 4,966 Shares of McDonald's Corporation (NYSE:MCD)

Fortis Group Advisors LLC raised its position in McDonald's Corporation (NYSE:MCD - Free Report) by 851.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,549 shares of the fast-food giant's stock after buying an additional 4,966 shares during the period. Fortis Group Advisors LLC's holdings in McDonald's were worth $1,733,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of McDonald's during the fourth quarter worth approximately $2,725,190,000. GAMMA Investing LLC raised its stake 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 worth $1,092,645,000 after buying an additional 3,488,982 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of McDonald's during the fourth quarter worth approximately $350,935,000. Northern Trust Corp raised its stake in shares of McDonald's by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock worth $2,570,511,000 after buying an additional 895,896 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of McDonald's by 24.4% during the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant's stock worth $1,175,326,000 after buying an additional 794,536 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MCD shares. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target for the company in a research note on Thursday, July 10th. Morgan Stanley upped their target price on shares of McDonald's from $324.00 to $326.00 and gave the company an "equal weight" rating in a research note on Monday. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Piper Sandler upped their target price on shares of McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $319.72.

McDonald's Stock Down 1.2%

Shares of MCD traded down $3.50 during trading hours on Friday, hitting $296.87. The company had a trading volume of 3,477,177 shares, compared to its average volume of 3,527,465. The firm has a market cap of $212.27 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.12 and a beta of 0.53. The business has a fifty day moving average of $302.83 and a 200-day moving average of $302.68. McDonald's Corporation has a 12 month low of $246.12 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period last year, the firm earned $2.70 earnings per share. McDonald's's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $1.77 dividend. The ex-dividend date was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.38%. McDonald's's payout ratio is currently 62.49%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the sale, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This trade represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,817 shares of company stock worth $1,165,843. 0.25% of the stock is currently owned by corporate insiders.

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.