NorthCrest Asset Manangement LLC Boosts Stake in McDonald's Corporation $MCD

Key Points

• NorthCrest Asset Management LLC increased its stake in McDonald's Corporation by 33.8% during the second quarter, owning a total of 4,697 shares valued at approximately $1.38 million.
• Other institutional investors have also significantly raised their stakes in McDonald's, with First American Trust FSB and Banque Transatlantique SA increasing their positions by 55.9% and 58.0% respectively during the first quarter.
• McDonald's reported a quarterly EPS of $3.19, exceeding analyst expectations, and announced a quarterly dividend of $1.77 per share, representing an annual yield of 2.3%.

NorthCrest Asset Manangement LLC raised its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 33.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,697 shares of the fast-food giant's stock after acquiring an additional 1,186 shares during the period. NorthCrest Asset Manangement LLC's holdings in McDonald's were worth $1,381,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First American Trust FSB grew its position in McDonald's by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant's stock valued at $11,532,000 after acquiring an additional 13,234 shares during the period. Banque Transatlantique SA grew its position in McDonald's by 58.0% during the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant's stock valued at $71,829,000 after acquiring an additional 91,313 shares during the period. Hamilton Capital LLC grew its position in McDonald's by 35.2% during the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant's stock valued at $982,000 after acquiring an additional 819 shares during the period. Red Door Wealth Management LLC grew its position in McDonald's by 1.9% during the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant's stock valued at $1,788,000 after acquiring an additional 109 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in McDonald's by 5.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant's stock valued at $107,867,000 after acquiring an additional 18,393 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

NYSE:MCD opened at $302.30 on Friday. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32. The business's 50-day simple moving average is $306.06 and its 200 day simple moving average is $306.45. The stock has a market cap of $215.72 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 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 analysts' expectations of $6.68 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The company's revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald's's payout ratio is 60.67%.

Analysts Set New Price Targets

MCD has been the topic of a number of recent research reports. KeyCorp restated an "overweight" rating and set a $335.00 price objective (up previously from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Argus cut McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Barclays boosted their price objective on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. TD Securities restated a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Finally, TD Cowen boosted their price objective on McDonald's from $305.00 to $315.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $325.86.

Insider Transactions at McDonald's

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares of the company's stock, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Banner sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company's stock, valued at approximately $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 8,341 shares of company stock valued at $2,544,327 in the last three months. Corporate insiders own 0.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.