Verity Asset Management Inc. Grows Stake in McDonald's Corporation (NYSE:MCD)

Verity Asset Management Inc. increased its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 95.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,004 shares of the fast-food giant's stock after purchasing an additional 2,447 shares during the period. Verity Asset Management Inc.'s holdings in McDonald's were worth $1,563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of McDonald's in the fourth quarter worth $2,725,190,000. GAMMA Investing LLC grew its stake in McDonald's by 39,039.7% during the first 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 in the last quarter. Raymond James Financial Inc. bought a new stake in McDonald's in the 4th quarter valued at $703,074,000. Castlekeep Investment Advisors LLC purchased a new stake in McDonald's in the 4th quarter worth $350,935,000. Finally, Northern Trust Corp lifted its stake in 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 worth $2,570,511,000 after purchasing an additional 895,896 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald's Trading Up 2.2%

MCD stock opened at $291.94 on Monday. The stock has a market cap of $208.74 billion, a PE ratio of 25.77, a P/E/G ratio of 3.04 and a beta of 0.56. McDonald's Corporation has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a 50-day moving average price of $308.26 and a 200 day moving average price of $302.52.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 earnings per share. Sell-side analysts forecast that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald's's dividend payout ratio is currently 62.49%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCD. Northcoast Research lowered McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird increased their price target on McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Piper Sandler raised their price target on McDonald's from $292.00 to $314.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. TD Securities reaffirmed a "hold" rating and issued a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Finally, Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, McDonald's presently has an average rating of "Hold" and an average target price of $321.79.

Insider Activity at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $315.07, for a total value of $295,850.73. Following the sale, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,817 shares of company stock worth $865,843 in the last quarter. 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.

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