Everhart Financial Group Inc. Increases Position in McDonald’s Co. (NYSE:MCD)

Everhart Financial Group Inc. increased its holdings in McDonald’s Co. (NYSE:MCD) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,951 shares of the fast-food giant’s stock after acquiring an additional 545 shares during the period. Everhart Financial Group Inc.’s holdings in McDonald’s were worth $1,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in McDonald’s in the 4th quarter valued at $2,725,190,000. GAMMA Investing LLC raised its stake in shares of McDonald’s by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock worth $1,092,645,000 after purchasing an additional 3,488,982 shares during the period. Raymond James Financial Inc. purchased a new position in shares of McDonald’s in the 4th quarter worth about $703,074,000. Castlekeep Investment Advisors LLC purchased a new stake in McDonald’s during the fourth quarter worth about $350,935,000. Finally, Northern Trust Corp increased its holdings in McDonald’s by 11.2% during the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after buying an additional 895,896 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCD has been the topic of a number of research analyst reports. Loop Capital cut shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the company from $346.00 to $315.00 in a research note on Friday, June 6th. Piper Sandler upped their price objective on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Northcoast Research lowered McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. BMO Capital Markets reissued an “outperform” rating and issued a $345.00 target price (up from $340.00) on shares of McDonald’s in a research report on Monday, May 5th. Finally, Barclays boosted their target price on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $321.79.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $315.07, for a total transaction of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. This represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 0.4%

Shares of NYSE MCD opened at $302.93 on Friday. The firm has a market capitalization of $216.60 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.10 and a beta of 0.56. The stock’s 50-day simple moving average is $311.91 and its two-hundred day simple moving average is $302.88. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.70 EPS. As a group, research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.34%. McDonald’s’s payout ratio is 62.49%.

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.