Richmond Investment Services LLC Purchases New Stake in McDonald's Co. (NYSE:MCD)

Richmond Investment Services LLC purchased a new position in shares of McDonald's Co. (NYSE:MCD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 972 shares of the fast-food giant's stock, valued at approximately $282,000.

Other institutional investors have also recently bought and sold shares of the company. Northeast Financial Consultants Inc lifted its holdings in shares of McDonald's by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock worth $2,170,000 after acquiring an additional 34 shares during the period. Pettee Investors Inc. grew its position in McDonald's by 0.7% in the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock valued at $1,566,000 after acquiring an additional 35 shares in the last quarter. Covestor Ltd grew its position in McDonald's by 4.1% in the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock valued at $261,000 after acquiring an additional 35 shares in the last quarter. Independent Wealth Network Inc. grew its position in McDonald's by 5.1% in the fourth quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant's stock valued at $213,000 after acquiring an additional 36 shares in the last quarter. Finally, Blue Barn Wealth LLC boosted its stake in shares of McDonald's by 4.3% during the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant's stock valued at $252,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley dropped their price target on shares of McDonald's from $340.00 to $335.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Truist Financial set a $350.00 price target on McDonald's in a research note on Friday, May 2nd. Erste Group Bank raised McDonald's from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, KeyCorp lifted their price target on McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McDonald's presently has a consensus rating of "Moderate Buy" and a consensus target price of $325.91.

McDonald's Trading Up 0.1%

McDonald's stock traded up $0.42 during mid-day trading on Tuesday, hitting $314.99. The company had a trading volume of 2,525,607 shares, compared to its average volume of 3,541,201. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company's fifty day moving average is $311.84 and its 200-day moving average is $301.65. The company has a market capitalization of $225.23 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 3.10 and a beta of 0.57.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the company earned $2.70 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald's's dividend payout ratio (DPR) is 62.49%.

Insider Activity at McDonald's

In other McDonald's news, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the transaction, the executive vice president now owns 5,564 shares of the company's stock, valued at $1,720,778.28. The trade was a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the transaction, the insider now owns 12,100 shares of the company's stock, valued at approximately $3,853,850. The trade was a 7.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,878 shares of company stock worth $904,192 in the last three months. 0.25% of the stock is owned by company insiders.

McDonald's Company 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.