Close Asset Management Ltd Raises Stock Position in McDonald’s Corporation (NYSE:MCD)

Close Asset Management Ltd increased its stake in McDonald’s Corporation (NYSE:MCD) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,404 shares of the fast-food giant’s stock after purchasing an additional 6,610 shares during the quarter. McDonald’s accounts for 0.8% of Close Asset Management Ltd’s portfolio, making the stock its 29th largest position. Close Asset Management Ltd’s holdings in McDonald’s were worth $28,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC raised its position in shares of McDonald’s by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after purchasing an additional 1,649 shares during the period. Revolve Wealth Partners LLC grew its holdings in McDonald’s by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 52 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of McDonald’s by 15.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock valued at $60,722,000 after buying an additional 27,774 shares during the last quarter. GHE LLC raised its holdings in shares of McDonald’s by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant’s stock worth $4,255,000 after buying an additional 136 shares during the period. Finally, American Century Companies Inc. grew its position in McDonald’s by 336.9% in the 4th quarter. American Century Companies Inc. now owns 232,328 shares of the fast-food giant’s stock valued at $67,350,000 after acquiring an additional 179,155 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Monday, June 23rd. The stock was 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 trade 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 through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,878 shares of company stock valued at $866,771 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCD. Citigroup upped their target price on McDonald’s from $364.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Redburn Atlantic reaffirmed a “sell” rating and set a $260.00 target price (down from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Morgan Stanley raised their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. KeyCorp reduced their price objective on McDonald’s from $340.00 to $325.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Finally, Melius started coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s has an average rating of “Hold” and an average price target of $322.00.

McDonald’s Stock Performance

MCD stock opened at $299.04 on Wednesday. The company has a market capitalization of $213.82 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. McDonald’s Corporation has a one year low of $246.12 and a one year high of $326.32. The company’s 50 day moving average price is $302.50 and its two-hundred day moving average price is $302.88.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter in the previous year, the business posted $2.70 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is currently 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.