Holderness Investments Co. Increases Holdings in McDonald’s Corporation (NYSE:MCD)

Holderness Investments Co. grew its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,308 shares of the fast-food giant’s stock after purchasing an additional 161 shares during the quarter. McDonald’s makes up 1.0% of Holderness Investments Co.’s investment portfolio, making the stock its 23rd largest holding. Holderness Investments Co.’s holdings in McDonald’s were worth $4,157,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First American Trust FSB increased its position in shares of McDonald’s by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Red Door Wealth Management LLC increased its position in shares of McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after purchasing an additional 109 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after acquiring an additional 18,393 shares during the last quarter. Sagespring Wealth Partners LLC increased its holdings in McDonald’s by 22.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 17,226 shares of the fast-food giant’s stock worth $5,381,000 after acquiring an additional 3,212 shares during the last quarter. Finally, Segment Wealth Management LLC increased its holdings in McDonald’s by 1.7% in the 1st quarter. Segment Wealth Management LLC now owns 54,672 shares of the fast-food giant’s stock worth $17,078,000 after acquiring an additional 937 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Up 1.1%

Shares of MCD opened at $304.82 on Thursday. The company has a market cap of $217.52 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.08 and a beta of 0.52. The stock has a 50-day moving average price of $298.03 and a 200-day moving average price of $304.74. McDonald’s Corporation has a 12-month low of $268.50 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%. McDonald’s’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $2.97 EPS. As a group, analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MCD shares. Barclays lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. TD Cowen lifted their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, August 6th. Redburn Atlantic reissued a “sell” rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Erste Group Bank lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Finally, Guggenheim reissued a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and an average target price of $326.87.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,280 shares of company stock valued at $2,215,178. Corporate insiders own 0.25% of the company’s stock.

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.