McDonald's Corporation $MCD Shares Purchased by Birinyi Associates Inc.

Key Points

• Birinyi Associates Inc. increased its stake in McDonald's by 139.3%, owning 14,355 shares after acquiring an additional 8,355 shares during the second quarter, worth approximately $4.19 million.
• McDonald's reported $3.19 earnings per share in its recent quarterly results, exceeding analysts' expectations, with a revenue of $6.84 billion for the quarter.
• The company declared a quarterly dividend of $1.77 per share, which represents a yield of 2.4% and a payout ratio of 60.67%.

Birinyi Associates Inc. grew its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 139.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,355 shares of the fast-food giant's stock after acquiring an additional 8,355 shares during the quarter. McDonald's comprises about 1.2% of Birinyi Associates Inc.'s holdings, making the stock its 19th largest position. Birinyi Associates Inc.'s holdings in McDonald's were worth $4,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. WealthPlan Investment Management LLC grew its holdings in shares of McDonald's by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant's stock worth $1,134,000 after purchasing an additional 32 shares during the last quarter. CVA Family Office LLC grew its stake in McDonald's by 1.9% during the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock worth $560,000 after buying an additional 33 shares during the last quarter. Consilium Wealth Advisory LLC grew 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 buying an additional 33 shares during the last quarter. Security Financial Services INC. grew its stake in McDonald's by 0.7% during the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock worth $1,575,000 after buying an additional 33 shares during the last quarter. Finally, Stockman Wealth Management Inc. grew its stake in McDonald's by 1.8% during the first quarter. Stockman Wealth Management Inc. now owns 1,964 shares of the fast-food giant's stock worth $613,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of MCD stock opened at $296.35 on Wednesday. McDonald's Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The stock has a market cap of $211.47 billion, a PE ratio of 25.39, a PEG ratio of 3.01 and a beta of 0.50. The firm's 50 day moving average price is $306.74 and its two-hundred day moving average price is $306.02.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company earned $2.97 EPS. The firm's revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on MCD. Truist Financial increased their price target on McDonald's from $356.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of McDonald's in a report on Saturday, September 27th. The Goldman Sachs Group upgraded McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a report on Thursday, July 10th. Redburn Atlantic reissued a "sell" rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Finally, BMO Capital Markets increased their price objective on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $325.86.

Insider Activity

In related news, EVP Jonathan Banner sold 1,000 shares of McDonald's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company's stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 over the last quarter. 0.25% of the stock is owned by insiders.

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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