Merit Financial Group LLC boosted its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,982 shares of the fast-food giant's stock after acquiring an additional 4,056 shares during the period. Merit Financial Group LLC's holdings in McDonald's were worth $9,366,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in McDonald's during the 4th quarter valued at $25,000. Atala Financial Inc acquired a new position in shares of McDonald's during the fourth quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of McDonald's in the fourth quarter valued at about $27,000. Collier Financial acquired a new stake in McDonald's during the fourth quarter worth about $29,000. Finally, Pinney & Scofield Inc. acquired a new stake in McDonald's during the fourth quarter worth about $29,000. 70.29% of the stock is currently owned by institutional investors.
McDonald's Stock Down 0.9%
MCD stock traded down $2.81 during trading on Thursday, hitting $308.76. The company had a trading volume of 3,810,886 shares, compared to its average volume of 3,498,126. The firm has a 50-day moving average price of $312.49 and a 200-day moving average price of $302.34. McDonald's Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The stock has a market cap of $220.78 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.10 and a beta of 0.56.
McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts' consensus estimates of $2.67. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. The company 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 company posted $2.70 earnings per share. The firm's quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts expect that McDonald's Co. will post 12.25 EPS for the current year.
McDonald's Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.29%. McDonald's's dividend payout ratio is currently 62.49%.
Analyst Ratings Changes
A number of analysts have commented on MCD shares. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. Truist Financial set a $350.00 price target on shares of McDonald's in a research note on Friday, May 2nd. Robert W. Baird increased their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Erste Group Bank downgraded shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, KeyCorp upped their target price on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $326.13.
Get Our Latest Stock Report on McDonald's
Insider Buying and Selling at McDonald's
In related news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares of the company's stock, valued at $3,853,850. The trade was a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company's stock.
McDonald's Profile
(
Free Report)
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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