Harvest Portfolios Group Inc. Has $20.78 Million Stock Position in McDonald's Corporation $MCD

Key Points

• Harvest Portfolios Group Inc. increased its holdings in McDonald's Corporation by 6.9%, acquiring an additional 4,311 shares, bringing their total to 66,516 shares valued at approximately $20.78 million.
• McDonald's reported $3.19 earnings per share for the last quarter, exceeding analysts' expectations and showing a 5.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.77 per share, with an ex-dividend date of September 2nd, representing an annual yield of 2.3%.

Harvest Portfolios Group Inc. grew its position in McDonald's Corporation (NYSE:MCD - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,516 shares of the fast-food giant's stock after buying an additional 4,311 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in McDonald's were worth $20,778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First American Trust FSB raised its position in McDonald's by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after acquiring an additional 13,234 shares in the last quarter. Red Door Wealth Management LLC raised its position in McDonald's by 1.9% during the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after acquiring an additional 109 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after acquiring an additional 18,393 shares in the last quarter. Sagespring Wealth Partners LLC raised its position in shares of McDonald's by 22.9% in the first quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock valued at $5,381,000 after purchasing an additional 3,212 shares during the period. Finally, Segment Wealth Management LLC raised its position in shares of McDonald's by 1.7% in the first quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant's stock valued at $17,078,000 after purchasing an additional 937 shares during the period. Institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. TD Cowen lifted their price target on shares of McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research report on Wednesday, August 6th. Redburn Atlantic reissued a "sell" rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. KeyCorp reissued an "overweight" rating and issued a $335.00 price target (up previously from $325.00) on shares of McDonald's in a research report on Thursday, August 7th. Finally, Robert W. Baird lifted their price target on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $326.38.

McDonald's Price Performance

MCD stock traded up $0.88 on Thursday, reaching $312.31. 3,470,542 shares of the company were exchanged, compared to its average volume of 3,497,968. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock's fifty day moving average price is $300.68 and its 200 day moving average price is $306.17. The firm has a market capitalization of $222.87 billion, a PE ratio of 26.76, a PEG ratio of 3.17 and a beta of 0.52.

McDonald's (NYSE:MCD - Get Free Report) last announced 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 firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 EPS. As a group, research analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The firm 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. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's payout ratio is 60.67%.

Insider Buying and Selling at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction 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 sale, the insider owned 9,283 shares of the company's stock, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company's stock, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,341 shares of company stock worth $2,229,327. Corporate insiders own 0.25% of the company's stock.

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.