OLD Republic International Corp Buys 3,100 Shares of McDonald's Corporation (NYSE:MCD)

OLD Republic International Corp lifted its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,150 shares of the fast-food giant's stock after acquiring an additional 3,100 shares during the quarter. McDonald's accounts for about 2.4% of OLD Republic International Corp's investment portfolio, making the stock its 12th largest holding. OLD Republic International Corp's holdings in McDonald's were worth $61,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Capital Advisors Inc. OK grew its stake in shares of McDonald's by 7.5% in the first quarter. Capital Advisors Inc. OK now owns 7,042 shares of the fast-food giant's stock worth $2,200,000 after acquiring an additional 494 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of McDonald's by 5.2% in the first quarter. Envestnet Asset Management Inc. now owns 1,298,746 shares of the fast-food giant's stock worth $405,689,000 after buying an additional 63,954 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of McDonald's by 4.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,087 shares of the fast-food giant's stock worth $652,000 after buying an additional 98 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of McDonald's by 48.6% in the first quarter. Penserra Capital Management LLC now owns 2,781 shares of the fast-food giant's stock worth $867,000 after buying an additional 909 shares during the last quarter. Finally, Rice Partnership LLC boosted its holdings in shares of McDonald's by 0.7% in the first quarter. Rice Partnership LLC now owns 19,556 shares of the fast-food giant's stock worth $6,109,000 after buying an additional 127 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of McDonald's from $300.00 to $315.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Northcoast Research downgraded shares of McDonald's from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Citigroup raised their price objective on shares of McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. KeyCorp lowered their price target on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Finally, TD Securities reaffirmed a "hold" rating and set a $305.00 price target on shares of McDonald's in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $321.17.

Insider Activity at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total transaction of $270,920.28. Following the completion of the sale, the insider directly owned 10,222 shares of the company's stock, valued at approximately $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 2,817 shares of company stock worth $865,843 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

McDonald's Price Performance

NYSE:MCD opened at $293.80 on Monday. McDonald's Corporation has a 1-year low of $243.53 and a 1-year high of $326.32. The company has a 50-day moving average of $306.11 and a 200 day moving average of $302.52. The firm has a market cap of $210.08 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53.

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

McDonald's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Monday, June 2nd. McDonald's's payout ratio is 62.49%.

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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