McDonald’s Corporation (NYSE:MCD) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in McDonald’s Corporation (NYSE:MCD) by 8.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,105,904 shares of the fast-food giant’s stock after acquiring an additional 84,296 shares during the quarter. McDonald’s accounts for about 0.7% of DekaBank Deutsche Girozentrale’s portfolio, making the stock its 28th largest position. DekaBank Deutsche Girozentrale’s holdings in McDonald’s were worth $338,087,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCD. Mascagni Wealth Management Inc. acquired a new position in McDonald’s in the 4th quarter valued at $25,000. Atala Financial Inc acquired a new position in McDonald’s in the 4th quarter valued at $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s in the 4th quarter valued at $29,000. Fairway Wealth LLC raised its stake in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of McDonald’s in the 4th quarter worth $30,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the completion of the sale, the insider directly owned 10,222 shares in the company, valued at $2,949,251.44. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,817 shares of company stock valued at $865,843 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on MCD. Robert W. Baird lifted their target price on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Morgan Stanley restated an “equal weight” rating and issued a $324.00 price objective (down from $329.00) on shares of McDonald’s in a report on Monday, June 9th. Truist Financial set a $350.00 price objective on shares of McDonald’s in a report on Friday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $345.00 price objective (up from $340.00) on shares of McDonald’s in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and an average price target of $321.17.

McDonald’s Stock Down 0.7%

MCD traded down $2.14 on Tuesday, reaching $291.39. 314,496 shares of the company traded hands, compared to its average volume of 3,585,419. McDonald’s Corporation has a one year low of $243.53 and a one year high of $326.32. The company has a market cap of $208.35 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. The firm has a fifty day simple moving average of $305.64 and a two-hundred day simple moving average of $302.53.

McDonald’s (NYSE:MCD) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. The company had revenue of $5.96 billion for 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%. McDonald’s’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.70 EPS. On average, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.43%. The ex-dividend date was Monday, June 2nd. McDonald’s’s payout ratio is 62.49%.

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.