First Trust Direct Indexing L.P. Has $6.78 Million Position in McDonald’s Co. (NYSE:MCD)

First Trust Direct Indexing L.P. increased its position in shares of McDonald’s Co. (NYSE:MCD) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,052 shares of the fast-food giant’s stock after purchasing an additional 2,128 shares during the period. McDonald’s makes up about 0.5% of First Trust Direct Indexing L.P.’s portfolio, making the stock its 26th biggest holding. First Trust Direct Indexing L.P.’s holdings in McDonald’s were worth $6,781,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after acquiring an additional 599,745 shares in the last quarter. Norges Bank acquired a new position in shares of McDonald’s during the 4th quarter worth $2,684,899,000. Price T Rowe Associates Inc. MD raised its holdings in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares in the last quarter. Gallagher Fiduciary Advisors LLC raised its holdings in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of McDonald’s by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,425,674 shares of the fast-food giant’s stock worth $1,589,073,000 after buying an additional 35,639 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock valued at $1,472,518 over the last ninety days. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MCD shares. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Wedbush reduced their price objective on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Morgan Stanley reduced their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. TD Cowen restated a “buy” rating and set a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 13th. Finally, Citigroup reduced their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

McDonald’s Trading Up 0.9 %

MCD stock traded up $2.21 during trading on Thursday, reaching $250.00. 2,026,070 shares of the stock were exchanged, compared to its average volume of 3,639,543. The firm’s 50 day moving average is $261.68 and its 200 day moving average is $278.32. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The firm has a market cap of $180.17 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.63 earnings per share. As a group, analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

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.