Eastern Bank Has $45.95 Million Position in McDonald's Corporation (NYSE:MCD)

Key Points

• Eastern Bank raised its stake in McDonald's Corporation by 43.3% in the first quarter, owning 147,096 shares worth approximately $45.9 million.
• Analysts have varying outlooks on McDonald's stock, with price targets ranging from $322.00 to $356.00, and the consensus rating currently at "Hold."
• The company recently declared a quarterly dividend of $1.77 per share, with an annual yield of 2.34% and a payout ratio of 62.49%.

Eastern Bank increased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 43.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,096 shares of the fast-food giant's stock after acquiring an additional 44,462 shares during the period. Eastern Bank's holdings in McDonald's were worth $45,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Brighton Jones LLC boosted its stake in McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after purchasing an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of McDonald's by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after purchasing an additional 52 shares during the period. Bank Pictet & Cie Europe AG grew its stake in McDonald's by 15.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after acquiring an additional 27,774 shares during the period. GHE LLC grew its stake in McDonald's by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock valued at $4,255,000 after acquiring an additional 136 shares during the period. Finally, Meridian Investment Counsel Inc. bought a new stake in shares of McDonald's in the fourth quarter valued at about $366,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Stock Performance

Shares of MCD traded down $3.31 during trading hours on Thursday, reaching $300.30. The stock had a trading volume of 3,619,632 shares, compared to its average volume of 3,222,961. McDonald's Corporation has a 12 month low of $262.40 and a 12 month high of $326.32. The stock has a market capitalization of $214.72 billion, a PE ratio of 26.50, a PEG ratio of 3.18 and a beta of 0.53. The company's 50-day moving average is $299.68 and its two-hundred day moving average is $303.37.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a negative return on equity of 195.27% and a net margin of 31.75%. McDonald's's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $2.70 EPS. Equities analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be 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 is Tuesday, September 2nd. McDonald's's dividend payout ratio (DPR) is currently 62.49%.

Insider Buying and Selling at McDonald's

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was 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 directly owned 8,858 shares of the company's stock, valued at $2,657,400. This trade represents a 10.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on 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 approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,817 shares of company stock valued at $1,147,992. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCD has been the topic of several analyst reports. Truist Financial upped their target price on McDonald's from $350.00 to $356.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $345.00 target price (up previously from $340.00) on shares of McDonald's in a research report on Monday, May 5th. BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Barclays upped their target price on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $260.00 target price (down previously from $319.00) on shares of McDonald's in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, McDonald's has a consensus rating of "Hold" and an average price target of $323.39.

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.