Perennial Advisors LLC Buys 229 Shares of McDonald’s Co. (NYSE:MCD)

Perennial Advisors LLC increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.9% during the 1st quarter, Holdings Channel reports. The fund owned 26,943 shares of the fast-food giant’s stock after acquiring an additional 229 shares during the period. McDonald’s comprises approximately 1.7% of Perennial Advisors LLC’s investment portfolio, making the stock its 19th largest position. Perennial Advisors LLC’s holdings in McDonald’s were worth $8,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mattern Capital Management LLC boosted its stake in McDonald’s by 2.0% during the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock worth $8,729,000 after acquiring an additional 579 shares in the last quarter. Bell Bank raised its holdings in McDonald’s by 3.0% during the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock worth $3,681,000 after buying an additional 371 shares during the last quarter. Integral Investment Advisors Inc. raised its holdings in McDonald’s by 2.6% during the fourth quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant’s stock worth $1,888,000 after buying an additional 164 shares during the last quarter. Aviva PLC raised its holdings in McDonald’s by 5.6% during the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant’s stock worth $125,350,000 after buying an additional 23,024 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in McDonald’s by 1,547.1% during the fourth quarter. APG Asset Management N.V. now owns 641,950 shares of the fast-food giant’s stock worth $179,715,000 after buying an additional 602,976 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCD has been the topic of several research reports. Wedbush upped their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. BMO Capital Markets restated an “outperform” rating and set a $345.00 price objective (up previously from $340.00) on shares of McDonald’s in a report on Monday, May 5th. Barclays upped their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Northcoast Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley cut their price target on shares of McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $324.96.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $307.44 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The firm has a market cap of $219.83 billion, a PE ratio of 26.99, a PEG ratio of 3.10 and a beta of 0.56. The company has a 50 day simple moving average of $312.29 and a two-hundred day simple moving average of $302.66.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the business posted $2.70 earnings per share. McDonald’s’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.30%. McDonald’s’s payout ratio is presently 62.49%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares in the company, valued at $3,853,850. The trade was a 7.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

About McDonald’s

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.