Greenleaf Trust Grows Stock Holdings in McDonald's Corporation (NYSE:MCD)

Greenleaf Trust lifted its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,475 shares of the fast-food giant's stock after buying an additional 1,612 shares during the period. Greenleaf Trust's holdings in McDonald's were worth $10,769,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of McDonald's in the fourth quarter worth $2,725,190,000. GAMMA Investing LLC grew its position in 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 buying an additional 3,488,982 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in McDonald's during the fourth quarter valued at about $350,935,000. Northern Trust Corp lifted its holdings in 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 valued at $2,570,511,000 after purchasing an additional 895,896 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in McDonald's by 24.4% in the 4th 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 in the last quarter. Institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

NYSE:MCD opened at $291.70 on Wednesday. The stock has a market capitalization of $208.57 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. McDonald's Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The business's 50-day simple moving average is $305.18 and its 200-day simple moving average is $302.45.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period last year, the company earned $2.70 earnings per share. The business's revenue was down 3.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. McDonald's's payout ratio is 62.49%.

Insider Activity

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 2,817 shares of company stock worth $865,843. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCD. Morgan Stanley reaffirmed an "equal weight" rating and issued a $324.00 target price (down from $329.00) on shares of McDonald's in a report on Monday, June 9th. Citigroup increased their target price on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Piper Sandler increased their price target on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Robert W. Baird boosted their price target on McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Loop Capital downgraded McDonald's from a "buy" rating to a "hold" rating and lowered their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $321.17.

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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