Range Financial Group LLC Has $3.55 Million Holdings in McDonald's Co. (NYSE:MCD)

Range Financial Group LLC increased its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,371 shares of the fast-food giant's stock after buying an additional 898 shares during the quarter. McDonald's accounts for approximately 1.6% of Range Financial Group LLC's holdings, making the stock its 9th biggest position. Range Financial Group LLC's holdings in McDonald's were worth $3,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCD. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald's during the 4th quarter worth about $25,000. Atala Financial Inc acquired a new stake in McDonald's in the 4th quarter worth $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in McDonald's during the fourth quarter worth about $27,000. Collier Financial bought a new stake in shares of McDonald's during the fourth quarter valued at approximately $29,000. Finally, Pinney & Scofield Inc. bought a new stake in McDonald's in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

NYSE:MCD traded down $4.53 during mid-day trading on Tuesday, reaching $300.25. The stock had a trading volume of 4,696,045 shares, compared to its average volume of 3,507,058. McDonald's Co. has a one year low of $243.53 and a one year high of $326.32. The stock has a market capitalization of $214.69 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.10 and a beta of 0.56. The firm has a 50 day moving average price of $312.15 and a two-hundred day moving average price of $302.86.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting the consensus estimate of $2.67. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts forecast that McDonald's Co. will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.36%. McDonald's's dividend payout ratio (DPR) is presently 62.49%.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction on Friday, May 23rd. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wedbush boosted their price target on McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Barclays boosted their target price on shares of McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Robert W. Baird upped their target price 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. Truist Financial set a $350.00 target price on shares of McDonald's in a research report on Friday, May 2nd. Finally, Morgan Stanley restated an "equal weight" rating and issued a $324.00 price target (down from $329.00) on shares of McDonald's in a research report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $321.79.

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.