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Harbour Investments Inc. Acquires 16,252 Shares of McDonald's Corporation $MCD

McDonald's logo with Retail/Wholesale background
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Key Points

  • Harbour Investments Inc. increased its McDonald’s stake by 84.4% in the fourth quarter, buying 16,252 additional shares to bring its total to 35,510 shares valued at about $10.85 million.
  • McDonald’s recently reported strong quarterly results, with earnings of $2.83 per share beating estimates and revenue rising 9.4% year over year to $6.52 billion.
  • The company announced a quarterly dividend of $1.86 per share and continues to receive a generally positive analyst outlook, with an average rating of “Moderate Buy” and a consensus target price of $334.45.
  • MarketBeat previews the top five stocks to own by June 1st.

Harbour Investments Inc. boosted its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 84.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,510 shares of the fast-food giant's stock after buying an additional 16,252 shares during the quarter. Harbour Investments Inc.'s holdings in McDonald's were worth $10,853,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new position in McDonald's in the 4th quarter valued at approximately $27,000. Park Place Capital Corp raised its holdings in McDonald's by 95.7% in the 4th quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant's stock valued at $28,000 after buying an additional 45 shares during the last quarter. DecisionPoint Financial LLC raised its holdings in McDonald's by 1,616.7% in the 4th quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant's stock valued at $31,000 after buying an additional 97 shares during the last quarter. Entrust Financial LLC bought a new position in McDonald's in the 4th quarter valued at approximately $31,000. Finally, Painted Porch Advisors LLC raised its holdings in McDonald's by 735.7% in the 3rd quarter. Painted Porch Advisors LLC now owns 117 shares of the fast-food giant's stock valued at $36,000 after buying an additional 103 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

Key Stories Impacting McDonald's

Here are the key news stories impacting McDonald's this week:

Insider Buying and Selling at McDonald's

In other news, insider Joseph M. Erlinger sold 333 shares of McDonald's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $302.72, for a total value of $100,805.76. Following the completion of the sale, the insider owned 8,067 shares in the company, valued at $2,442,042.24. The trade was a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 5,585 shares of company stock valued at $1,769,209. Insiders own 0.26% of the company's stock.

McDonald's Stock Up 0.1%

NYSE:MCD opened at $282.48 on Tuesday. The company has a fifty day moving average of $298.88 and a 200-day moving average of $309.23. The firm has a market capitalization of $200.70 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.81 and a beta of 0.43. McDonald's Corporation has a twelve month low of $271.98 and a twelve month high of $341.75.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.09. The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. McDonald's had a net margin of 31.62% and a negative return on equity of 442.10%. McDonald's's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.67 EPS. On average, analysts anticipate that McDonald's Corporation will post 12.93 EPS for the current fiscal year.

McDonald's Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be paid a $1.86 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $7.44 annualized dividend and a dividend yield of 2.6%. McDonald's's payout ratio is currently 61.34%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCD. Truist Financial raised their price objective on shares of McDonald's from $356.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Piper Sandler raised their price target on shares of McDonald's from $323.00 to $325.00 and gave the stock a "neutral" rating in a report on Thursday, February 12th. Morgan Stanley set a $331.00 price target on shares of McDonald's in a report on Friday, May 8th. KeyCorp lowered their price target on shares of McDonald's from $345.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of McDonald's from $325.00 to $305.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Seventeen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $334.45.

Read Our Latest Stock Analysis on MCD

McDonald's Company Profile

(Free Report)

McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.

See Also

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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