Oakworth Capital Inc. Buys 538 Shares of McDonald’s Co. (NYSE:MCD)

Oakworth Capital Inc. raised its stake in McDonald’s Co. (NYSE:MCD) by 13.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,647 shares of the fast-food giant’s stock after purchasing an additional 538 shares during the quarter. Oakworth Capital Inc.’s holdings in McDonald’s were worth $1,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in McDonald’s in the second quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares during the last quarter. BNP Paribas bought a new stake in McDonald’s in the first quarter valued at approximately $7,898,000. First Long Island Investors LLC lifted its position in McDonald’s by 16.6% in the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after purchasing an additional 7,707 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its position in McDonald’s by 269.8% in the first quarter. Aviance Capital Partners LLC now owns 11,702 shares of the fast-food giant’s stock valued at $3,299,000 after purchasing an additional 8,538 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,998 shares of company stock valued at $9,935,493 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.3 %

NYSE MCD opened at $314.00 on Tuesday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock has a market cap of $226.29 billion, a P/E ratio of 26.73, a P/E/G ratio of 4.05 and a beta of 0.73. The stock’s fifty day moving average price is $295.53 and its 200-day moving average price is $274.01.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for 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 company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 earnings per share. As a group, analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 60.10%.

Analyst Ratings Changes

Several brokerages have weighed in on MCD. KeyCorp boosted their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen upped their target price on McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley upped their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. UBS Group upped their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their target price on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $318.59.

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.