KLP Kapitalforvaltning AS Buys 8,500 Shares of McDonald's Corporation $MCD

Key Points

• KLP Kapitalforvaltning AS increased its stake in McDonald's Corporation by 3.1%, acquiring an additional 8,500 shares, bringing its total holdings to 279,756 shares valued at $81.7 million.
• Multiple brokerages have revised their price targets for McDonald's, with Barclays raising its target to $360.00 and Bank of America lowering it to $322.00, highlighting varied investor sentiment.
• McDonald's reported $3.19 earnings per share for the last quarter, exceeding analysts' estimates, alongside a year-over-year revenue increase of 5.4%.

KLP Kapitalforvaltning AS raised its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,756 shares of the fast-food giant's stock after acquiring an additional 8,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in McDonald's were worth $81,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MCD. HFM Investment Advisors LLC bought a new stake in McDonald's during the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in McDonald's during the 1st quarter valued at $26,000. Abound Financial LLC bought a new stake in McDonald's during the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald's during the 1st quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of McDonald's during the 1st quarter valued at $31,000. Institutional investors own 70.29% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCD. Bank of America decreased their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a report on Friday, July 18th. JPMorgan Chase & Co. increased their price objective on McDonald's from $305.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Piper Sandler increased their price objective on McDonald's from $314.00 to $325.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Guggenheim reiterated a "neutral" rating on shares of McDonald's in a report on Friday, August 8th. Finally, Barclays increased their price objective on McDonald's from $355.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, McDonald's has a consensus rating of "Hold" and a consensus target price of $325.86.

McDonald's Price Performance

Shares of MCD stock opened at $296.09 on Tuesday. The firm has a market capitalization of $211.29 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. The business has a fifty day moving average of $306.87 and a 200 day moving average of $306.09. McDonald's Corporation has a 1 year low of $276.53 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $2.97 EPS. As a group, equities research analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is currently 60.67%.

Insider Buying and Selling

In other McDonald's news, 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 directly owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% 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 stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock valued at $2,273,407 over the last quarter. 0.25% of the stock is currently owned by company 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.

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