Fiduciary Group LLC Increases Position in McDonald’s Co. (NYSE:MCD)

Fiduciary Group LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,674 shares of the fast-food giant’s stock after purchasing an additional 75 shares during the quarter. Fiduciary Group LLC’s holdings in McDonald’s were worth $2,210,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in McDonald’s in the fourth quarter valued at $4,286,000. Hantz Financial Services Inc. bought a new stake in shares of McDonald’s during the 2nd quarter valued at about $6,612,000. California State Teachers Retirement System raised its stake in McDonald’s by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after acquiring an additional 15,863 shares during the period. Keystone Financial Group lifted its holdings in McDonald’s by 5.9% in the fourth quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock worth $2,667,000 after acquiring an additional 499 shares during the last quarter. Finally, Brevan Howard Capital Management LP boosted its stake in McDonald’s by 411.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after acquiring an additional 6,031 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 1.4 %

Shares of NYSE:MCD opened at $296.55 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The firm has a fifty day moving average price of $272.89 and a 200 day moving average price of $270.80. The stock has a market capitalization of $213.72 billion, a PE ratio of 25.17, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $3.17 earnings per share. On average, sell-side analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock worth $1,689,073 in the last quarter. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCD. Barclays lowered their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Truist Financial dropped their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Evercore ISI raised their target price on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $305.37.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.