McDonald's Corporation (NYSE:MCD) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 271,256 shares of the fast-food giant's stock after buying an additional 4,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in McDonald's were worth $84,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Granite Bay Wealth Management LLC lifted its stake in McDonald's by 3.5% during the first quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock worth $309,000 after purchasing an additional 33 shares in the last quarter. CVA Family Office LLC grew its position in McDonald's by 1.9% in the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after acquiring an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC increased its stake in McDonald's by 2.5% during the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock worth $417,000 after purchasing an additional 33 shares during the period. Northeast Financial Consultants Inc lifted its position in shares of McDonald's by 0.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after purchasing an additional 34 shares in the last quarter. Finally, Tealwood Asset Management Inc. grew its holdings in shares of McDonald's by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant's stock valued at $2,535,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 70.29% of the company's stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at $2,657,400. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,817 shares of company stock worth $1,147,992. 0.25% of the stock is owned by company insiders.

McDonald's Price Performance

MCD stock traded down $3.38 during midday trading on Thursday, hitting $294.74. The stock had a trading volume of 4,422,851 shares, compared to its average volume of 3,612,041. McDonald's Corporation has a 12-month low of $250.23 and a 12-month high of $326.32. The company's 50-day moving average price is $301.79 and its 200 day moving average price is $302.83. The firm has a market cap of $210.75 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 3.13 and a beta of 0.53.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS 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 business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the business earned $2.70 earnings per share. The business's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, sell-side analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent research reports. BMO Capital Markets restated an "outperform" rating and set a $345.00 target price (up from $340.00) on shares of McDonald's in a research note on Monday, May 5th. Argus lowered McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Loop Capital lowered shares of McDonald's from a "buy" rating to a "hold" rating and dropped their price target for the stock from $346.00 to $315.00 in a research note on Friday, June 6th. Barclays lifted their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, KeyCorp cut their target price on McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $322.00.

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.