L. Roy Papp & Associates LLP Raises Position in McDonald’s Co. (NYSE:MCD)

L. Roy Papp & Associates LLP grew its stake in McDonald’s Co. (NYSE:MCD) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,269 shares of the fast-food giant’s stock after purchasing an additional 314 shares during the period. L. Roy Papp & Associates LLP’s holdings in McDonald’s were worth $2,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCD. Leonard Rickey Investment Advisors P.L.L.C. raised its holdings in shares of McDonald’s by 13.5% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,167 shares of the fast-food giant’s stock worth $297,000 after buying an additional 139 shares during the period. My Legacy Advisors LLC bought a new stake in shares of McDonald’s during the second quarter worth $1,407,000. Unique Wealth Strategies LLC purchased a new stake in shares of McDonald’s during the second quarter valued at $81,000. DT Investment Partners LLC grew its holdings in shares of McDonald’s by 1.7% in the second quarter. DT Investment Partners LLC now owns 4,484 shares of the fast-food giant’s stock worth $1,143,000 after purchasing an additional 76 shares during the last quarter. Finally, &PARTNERS increased its stake in McDonald’s by 327.9% in the 2nd quarter. &PARTNERS now owns 44,760 shares of the fast-food giant’s stock worth $11,402,000 after buying an additional 34,300 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MCD shares. KeyCorp dropped their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Truist Financial lowered their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley cut their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and lowered their price target for the stock from $285.00 to $280.00 in a research report on Wednesday, July 31st. Finally, Citigroup cut their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $303.71.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on 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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,695 shares of company stock worth $943,113. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.1 %

Shares of NYSE:MCD traded up $0.31 during trading on Friday, hitting $289.52. The stock had a trading volume of 2,137,532 shares, compared to its average volume of 3,554,448. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The stock has a market capitalization of $208.65 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The stock has a 50-day simple moving average of $261.43 and a two-hundred day simple moving average of $270.98.

McDonald’s (NYSE:MCD) last posted 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 analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.17 earnings per share. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

About McDonald’s

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.