Pittenger & Anderson Inc. boosted its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 21.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,487 shares of the fast-food giant's stock after buying an additional 3,866 shares during the quarter. Pittenger & Anderson Inc.'s holdings in McDonald's were worth $6,567,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in MCD. D.A. Davidson & CO. boosted its position in McDonald's by 2.7% during the third quarter. D.A. Davidson & CO. now owns 143,492 shares of the fast-food giant's stock worth $43,606,000 after acquiring an additional 3,774 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in McDonald's by 317.2% in the 3rd quarter. Synergy Asset Management LLC now owns 19,079 shares of the fast-food giant's stock valued at $5,691,000 after purchasing an additional 14,506 shares during the last quarter. National Pension Service boosted its holdings in McDonald's by 2.5% in the 3rd quarter. National Pension Service now owns 1,533,015 shares of the fast-food giant's stock valued at $465,868,000 after purchasing an additional 37,744 shares during the last quarter. Schroder Investment Management Group boosted its holdings in McDonald's by 5.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,029,572 shares of the fast-food giant's stock valued at $312,877,000 after purchasing an additional 51,039 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in McDonald's in the 3rd quarter valued at about $1,697,000. 70.29% of the stock is currently owned by institutional investors.
Insider Buying and Selling at McDonald's
In related news, insider Joseph M. Erlinger sold 333 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $302.72, for a total transaction of $100,805.76. Following the sale, the insider directly owned 8,067 shares of the company's stock, valued at $2,442,042.24. This represents a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 26,276 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $333.54, for a total transaction of $8,764,097.04. Following the sale, the chief executive officer directly owned 22,900 shares in the company, valued at approximately $7,638,066. The trade was a 53.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,990 shares of company stock valued at $23,824,113 in the last 90 days. Corporate insiders own 0.26% of the company's stock.
Key McDonald's News
Here are the key news stories impacting McDonald's this week:
McDonald's Stock Down 2.3%
Shares of MCD opened at $286.83 on Friday. McDonald's Corporation has a fifty-two week low of $283.47 and a fifty-two week high of $341.75. The firm's 50 day moving average price is $314.29 and its 200 day moving average price is $311.81. The company has a market cap of $203.89 billion, a P/E ratio of 24.00, a PEG ratio of 2.65 and a beta of 0.43.
McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, topping the consensus estimate of $3.05 by $0.07. McDonald's had a net margin of 31.85% and a negative return on equity of 343.90%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm earned $2.83 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts forecast that McDonald's Corporation will post 13.2 earnings per share for the current year.
McDonald's Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, March 3rd. McDonald's's dividend payout ratio is presently 62.26%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of McDonald's from $320.00 to $330.00 and gave the company a "sector perform" rating in a research note on Thursday, February 12th. Tigress Financial boosted their price target on shares of McDonald's from $360.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Wells Fargo & Company boosted their price target on shares of McDonald's from $345.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. Argus raised shares of McDonald's from a "hold" rating to a "buy" rating and set a $380.00 price target on the stock in a research note on Friday, February 13th. Finally, TD Cowen reissued a "hold" rating and issued a $320.00 price target on shares of McDonald's in a research note on Thursday, February 12th. Sixteen research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $340.93.
View Our Latest Analysis on McDonald's
McDonald's Company Profile
(
Free Report)
McDonald's Corporation NYSE: MCD is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald's serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.
Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand's national and international expansion.
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