Abacus Planning Group Inc. Purchases 42 Shares of McDonald’s Co. (NYSE:MCD)

Abacus Planning Group Inc. lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,610 shares of the fast-food giant’s stock after purchasing an additional 42 shares during the period. Abacus Planning Group Inc.’s holdings in McDonald’s were worth $1,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCD. International Assets Investment Management LLC raised its stake in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of McDonald’s during the 3rd quarter worth approximately $121,254,000. Zurich Insurance Group Ltd FI raised its stake in shares of McDonald’s by 3,580.1% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock worth $81,807,000 after purchasing an additional 261,350 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in shares of McDonald’s by 26,948.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,752 shares of the fast-food giant’s stock worth $66,023,000 after purchasing an additional 226,910 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 1.0 %

Shares of MCD stock opened at $301.71 on Thursday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market cap of $216.21 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.16 and a beta of 0.74. The business has a fifty day simple moving average of $292.32 and a 200 day simple moving average of $293.44.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, equities research analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. McDonald’s’s dividend payout ratio is currently 62.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCD. Piper Sandler dropped their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. boosted their target price on McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. TD Cowen reissued a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.61.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,106 shares of company stock worth $6,368,814 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Company 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.