Oppenheimer & Co. Inc. Raises Holdings in McDonald's Corporation (NYSE:MCD)

Oppenheimer & Co. Inc. lifted its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 12.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,428 shares of the fast-food giant's stock after purchasing an additional 6,531 shares during the period. Oppenheimer & Co. Inc.'s holdings in McDonald's were worth $18,876,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Integral Investment Advisors Inc. grew its stake in McDonald's by 2.6% in the 4th quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant's stock worth $1,888,000 after acquiring an additional 164 shares during the period. Aviva PLC boosted its position in McDonald's by 5.6% during the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant's stock worth $125,350,000 after purchasing an additional 23,024 shares during the period. Sagespring Wealth Partners LLC lifted its holdings in McDonald's by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant's stock worth $5,381,000 after buying an additional 3,212 shares in the last quarter. Great Waters Wealth Management acquired a new position in McDonald's in the 1st quarter worth $864,000. Finally, APG Asset Management N.V. lifted its holdings in McDonald's by 1,547.1% in the 4th quarter. APG Asset Management N.V. now owns 641,950 shares of the fast-food giant's stock worth $179,715,000 after buying an additional 602,976 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial set a $350.00 target price on shares of McDonald's in a research note on Friday, May 2nd. KeyCorp increased their price objective on shares of McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. TD Securities reiterated a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a report on Thursday, June 5th. BMO Capital Markets reiterated an "outperform" rating and issued a $345.00 price objective (up from $340.00) on shares of McDonald's in a report on Monday, May 5th. Finally, Loop Capital cut shares of McDonald's from a "buy" rating to a "hold" rating and decreased their price objective for the company from $346.00 to $315.00 in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, McDonald's presently has an average rating of "Hold" and an average price target of $321.79.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the transaction, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company's stock.

McDonald's Price Performance

Shares of McDonald's stock opened at $286.75 on Monday. McDonald's Corporation has a fifty-two week low of $243.53 and a fifty-two week high of $326.32. The firm has a fifty day moving average price of $310.55 and a two-hundred day moving average price of $302.86. The company has a market cap of $205.04 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 3.00 and a beta of 0.56.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts' consensus estimates of $2.67. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $2.70 EPS. Analysts expect that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio is currently 62.49%.

McDonald's 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.

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