Pettee Investors Inc. Acquires 1,830 Shares of McDonald's Corporation (NYSE:MCD)

Pettee Investors Inc. increased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 33.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,231 shares of the fast-food giant's stock after buying an additional 1,830 shares during the period. McDonald's accounts for approximately 1.3% of Pettee Investors Inc.'s portfolio, making the stock its 25th largest holding. Pettee Investors Inc.'s holdings in McDonald's were worth $2,259,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MCD. Norges Bank bought a new stake in shares of McDonald's in the fourth quarter worth about $2,725,190,000. GAMMA Investing LLC boosted its holdings in McDonald's by 39,039.7% in the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant's stock worth $1,092,645,000 after buying an additional 3,488,982 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in McDonald's in the 4th quarter worth $350,935,000. Northern Trust Corp raised its position in shares of McDonald's by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant's stock valued at $2,570,511,000 after buying an additional 895,896 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in McDonald's by 24.4% in the 4th quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant's stock worth $1,175,326,000 after purchasing an additional 794,536 shares during the period. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Stock Up 0.5%

Shares of McDonald's stock traded up $1.36 during trading on Thursday, hitting $300.26. The stock had a trading volume of 3,134,160 shares, compared to its average volume of 3,527,651. The stock has a 50 day simple moving average of $303.10 and a 200 day simple moving average of $302.60. McDonald's Corporation has a 1 year low of $246.12 and a 1 year high of $326.32. The company has a market capitalization of $214.70 billion, a PE ratio of 26.50, a P/E/G ratio of 3.12 and a beta of 0.53.

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 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period last year, the business earned $2.70 earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Monday, June 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is 62.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. The Goldman Sachs Group upgraded shares of McDonald's from a "neutral" rating to a "buy" rating and set a $345.00 target price on the stock in a research note on Thursday, July 10th. KeyCorp lowered their target price on shares of McDonald's from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Barclays lifted their price objective on shares of McDonald's from $347.00 to $355.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Argus downgraded shares of McDonald's from a "buy" rating to a "hold" rating in a research note on Friday, June 13th. Finally, Melius assumed coverage on shares of McDonald's in a report on Monday. They set a "sell" rating and a $250.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, McDonald's has an average rating of "Hold" and an average target price of $319.48.

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction that occurred on 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 owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,817 shares of company stock valued at $1,165,843. Company insiders own 0.25% of the company's stock.

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.