Tounjian Advisory Partners LLC Invests $6.16 Million in McDonald's Co. (NYSE:MCD)

Tounjian Advisory Partners LLC acquired a new stake in McDonald's Co. (NYSE:MCD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,708 shares of the fast-food giant's stock, valued at approximately $6,156,000. McDonald's comprises 1.1% of Tounjian Advisory Partners LLC's portfolio, making the stock its 21st biggest position.

A number of other hedge funds have also made changes to their positions in MCD. Norges Bank purchased a new position in shares of McDonald's in the 4th quarter valued at about $2,725,190,000. GAMMA Investing LLC increased its holdings in shares of 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 valued at $1,092,645,000 after acquiring an additional 3,488,982 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of McDonald's in the 4th quarter valued at about $703,074,000. Castlekeep Investment Advisors LLC purchased a new position in shares of McDonald's in the 4th quarter valued at about $350,935,000. Finally, Northern Trust Corp increased its holdings in shares of McDonald's by 11.2% in 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 acquiring an additional 895,896 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analyst Ratings Changes

MCD has been the topic of a number of research reports. Northcoast Research downgraded McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Truist Financial set a $350.00 price target on McDonald's in a research note on Friday, May 2nd. Redburn Atlantic restated a "sell" rating and set a $260.00 price target (down previously from $319.00) on shares of McDonald's in a research note on Tuesday. Citigroup raised their price target on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $321.79.

Insider Buying and Selling

In related 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 directly owns 11,161 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

McDonald's Stock Down 1.5%

Shares of McDonald's stock traded down $4.53 during trading on Tuesday, reaching $300.25. The company's stock had a trading volume of 4,696,045 shares, compared to its average volume of 3,507,058. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company has a market capitalization of $214.69 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The business has a 50 day moving average price of $312.15 and a 200-day moving average price of $302.86.

McDonald's (NYSE:MCD - Get Free Report) last posted 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. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a negative return on equity of 181.63% and a net margin of 31.73%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.70 earnings per share. Research analysts predict that McDonald's Co. will post 12.25 EPS for the current fiscal year.

McDonald's Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.36%. McDonald's's dividend payout ratio is presently 62.49%.

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.