First National Bank of Omaha trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD – Get Rating) by 15.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,730 shares of the fast-food giant’s stock after selling 1,370 shares during the period. First National Bank of Omaha’s holdings in McDonald’s were worth $1,912,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Rafferty Asset Management LLC boosted its stake in shares of McDonald’s by 117.2% in the 4th quarter. Rafferty Asset Management LLC now owns 7,788 shares of the fast-food giant’s stock worth $2,088,000 after buying an additional 4,203 shares during the last quarter. Covestor Ltd purchased a new position in shares of McDonald’s in the 4th quarter worth $54,000. Advisor Resource Council purchased a new position in shares of McDonald’s in the 4th quarter worth $732,000. Forbes J M & Co. LLP boosted its stake in shares of McDonald’s by 5.6% in the 4th quarter. Forbes J M & Co. LLP now owns 3,907 shares of the fast-food giant’s stock worth $1,047,000 after buying an additional 207 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of McDonald’s by 30.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,867 shares of the fast-food giant’s stock worth $8,006,000 after buying an additional 7,012 shares during the last quarter. 67.27% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Ian Frederick Borden sold 5,320 shares of McDonald’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $265.00, for a total value of $1,409,800.00. Following the completion of the transaction, the insider now owns 7,131 shares in the company, valued at $1,889,715. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Ian Frederick Borden sold 5,320 shares of McDonald’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $265.00, for a total value of $1,409,800.00. Following the completion of the transaction, the insider now owns 7,131 shares in the company, valued at $1,889,715. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Catherine A. Hoovel sold 2,371 shares of McDonald’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total value of $606,075.02. Following the completion of the transaction, the senior vice president now owns 1,184 shares of the company’s stock, valued at approximately $302,654.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,191 shares of company stock worth $5,250,365. Corporate insiders own 0.25% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on MCD. Jefferies Financial Group dropped their price target on McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Citigroup raised their price target on McDonald’s from $266.00 to $275.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft downgraded McDonald’s from a “buy” rating to a “hold” rating and lowered their target price for the company from $263.00 to $259.00 in a research report on Wednesday, July 27th. Truist Financial lifted their target price on McDonald’s from $273.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Finally, Robert W. Baird set a $285.00 target price on McDonald’s in a research report on Tuesday, July 19th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $285.04.
McDonald’s Trading Down 0.9 %
Shares of MCD stock opened at $253.47 on Friday. McDonald’s Co. has a 12-month low of $217.68 and a 12-month high of $271.15. The stock’s 50-day moving average price is $258.15 and its 200-day moving average price is $248.82. The stock has a market capitalization of $186.48 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 3.09 and a beta of 0.57.
McDonald’s (NYSE:MCD – Get Rating) last issued its earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. McDonald’s had a negative return on equity of 129.90% and a net margin of 25.77%. The firm had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the previous year, the firm posted $2.37 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Co. will post 9.83 EPS for the current fiscal year.
McDonald’s Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, September 1st will be given a $1.38 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $5.52 annualized dividend and a yield of 2.18%. McDonald’s’s dividend payout ratio is currently 67.98%.
About McDonald’s
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McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.
See Also
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