Somerset Trust Co increased its stake in McDonald's Co. (NYSE:MCD - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,411 shares of the fast-food giant's stock after acquiring an additional 865 shares during the period. McDonald's makes up about 2.0% of Somerset Trust Co's holdings, making the stock its 13th largest holding. Somerset Trust Co's holdings in McDonald's were worth $5,751,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in McDonald's during the 4th quarter worth $25,000. Atala Financial Inc acquired a new position in shares of McDonald's in the 4th quarter valued at $26,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of McDonald's in the 4th quarter valued at $27,000. Collier Financial purchased a new stake in McDonald's in the 4th quarter valued at $29,000. Finally, Pinney & Scofield Inc. acquired a new stake in McDonald's during the 4th quarter worth $29,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at McDonald's
In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total value of $299,071.50. Following the transaction, the insider now owns 12,100 shares in the company, valued at $3,853,850. The trade was a 7.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company's stock.
McDonald's Stock Performance
NYSE MCD traded up $1.44 during trading hours on Wednesday, hitting $313.83. 901,108 shares of the company's stock were exchanged, compared to its average volume of 3,496,822. The firm has a market capitalization of $224.40 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The business's 50 day moving average is $312.39 and its 200-day moving average is $302.27. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32.
McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting analysts' consensus estimates of $2.67. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The firm had revenue of $5.96 billion for the quarter, compared to analysts' expectations of $6.17 billion. During the same period in the previous year, the company posted $2.70 earnings per share. McDonald's's revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that McDonald's Co. will post 12.25 EPS for the current fiscal year.
McDonald's Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $1.77 dividend. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald's's dividend payout ratio (DPR) is currently 62.49%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on MCD shares. Robert W. Baird boosted their price target on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Truist Financial set a $350.00 target price on McDonald's in a report on Friday, May 2nd. 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 research report on Monday, May 5th. Wedbush raised their target price on shares of McDonald's from $320.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, KeyCorp lifted their price objective on McDonald's from $335.00 to $340.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $325.91.
Check Out Our Latest Analysis on McDonald's
About McDonald's
(
Free Report)
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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