Panoramic Capital Partners LLC Purchases Shares of 803 McDonald’s Co. (NYSE:MCD)

Panoramic Capital Partners LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 803 shares of the fast-food giant’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. International Private Wealth Advisors LLC boosted its position in McDonald’s by 3.3% during the 1st quarter. International Private Wealth Advisors LLC now owns 1,668 shares of the fast-food giant’s stock worth $521,000 after acquiring an additional 53 shares during the period. Tounjian Advisory Partners LLC bought a new stake in shares of McDonald’s during the first quarter valued at about $6,156,000. Pallas Capital Advisors LLC lifted its holdings in McDonald’s by 7.3% in the first quarter. Pallas Capital Advisors LLC now owns 15,384 shares of the fast-food giant’s stock worth $4,805,000 after purchasing an additional 1,042 shares during the period. WFA Asset Management Corp grew its position in McDonald’s by 5.6% in the 1st quarter. WFA Asset Management Corp now owns 1,083 shares of the fast-food giant’s stock valued at $338,000 after buying an additional 57 shares in the last quarter. Finally, Cetera Trust Company N.A increased its stake in McDonald’s by 1.0% during the 1st quarter. Cetera Trust Company N.A now owns 8,444 shares of the fast-food giant’s stock valued at $2,638,000 after buying an additional 85 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. This represents a 7.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

McDonald’s Stock Down 0.5%

Shares of NYSE:MCD opened at $307.44 on Monday. The company’s fifty day moving average is $312.29 and its two-hundred day moving average is $302.76. The company has a market cap of $219.83 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. McDonald’s’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.70 earnings per share. Equities research analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued 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 2.30%. McDonald’s’s dividend payout ratio is 62.49%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCD. Truist Financial set a $350.00 price objective on shares of McDonald’s in a report on Friday, May 2nd. Morgan Stanley lowered McDonald’s from an “overweight” rating to an “equal weight” rating and set a $324.00 price target for the company. in a research note on Monday. Loop Capital cut McDonald’s from a “buy” rating to a “hold” rating and lowered their price target for the company from $346.00 to $315.00 in a research report on Friday. Barclays upped their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Bank of America lifted their target price on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.48.

McDonald’s 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.