Waratah Capital Advisors Ltd. Takes Position in McDonald’s Co. (NYSE:MCD)

Waratah Capital Advisors Ltd. bought a new stake in McDonald’s Co. (NYSE:MCDGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,054 shares of the fast-food giant’s stock, valued at approximately $3,228,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of McDonald’s by 4.5% in the fourth quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock valued at $14,185,930,000 after purchasing an additional 2,294,758 shares during the last quarter. State Street Corp raised its holdings in shares of McDonald’s by 2.9% in the fourth quarter. State Street Corp now owns 36,973,382 shares of the fast-food giant’s stock valued at $9,911,455,000 after purchasing an additional 1,033,751 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of McDonald’s by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 12,846,007 shares of the fast-food giant’s stock valued at $3,435,310,000 after purchasing an additional 257,679 shares during the last quarter. Norges Bank purchased a new stake in shares of McDonald’s in the fourth quarter valued at about $2,060,325,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of McDonald’s by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,009,249 shares of the fast-food giant’s stock valued at $1,342,830,000 after purchasing an additional 86,884 shares during the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MCD. Morgan Stanley lowered their target price on shares of McDonald’s from $287.00 to $285.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Royal Bank of Canada raised their price objective on shares of McDonald’s from $292.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Truist Financial raised their price objective on shares of McDonald’s from $273.00 to $276.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Robert W. Baird set a $285.00 price objective on shares of McDonald’s in a report on Tuesday, July 19th. Finally, BMO Capital Markets raised their price objective on shares of McDonald’s from $270.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $284.19.

Insider Buying and Selling

In related news, SVP Catherine A. Hoovel sold 2,371 shares of McDonald’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total value of $606,075.02. Following the transaction, the senior vice president now directly owns 1,184 shares of the company’s stock, valued at $302,654.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Catherine A. Hoovel sold 2,371 shares of McDonald’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total value of $606,075.02. Following the sale, the senior vice president now owns 1,184 shares in the company, valued at $302,654.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ian Frederick Borden sold 8,000 shares of McDonald’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $255.80, for a total transaction of $2,046,400.00. Following the completion of the sale, the insider now owns 7,131 shares in the company, valued at approximately $1,824,109.80. The disclosure for this sale can be found here. Insiders have sold a total of 20,191 shares of company stock valued at $5,250,365 over the last three months. 0.25% of the stock is owned by company insiders.

McDonald’s Stock Performance

MCD traded down $1.41 on Friday, reaching $259.23. The company had a trading volume of 1,818,555 shares, compared to its average volume of 2,428,315. The business has a 50 day simple moving average of $250.10 and a 200 day simple moving average of $247.83. The company has a market cap of $191.71 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 3.18 and a beta of 0.56. McDonald’s Co. has a 52-week low of $217.68 and a 52-week high of $271.15.

McDonald’s (NYSE:MCDGet Rating) last announced its earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The business had revenue of $5.72 billion for the quarter, compared to the consensus estimate of $5.82 billion. McDonald’s had a net margin of 25.77% and a negative return on equity of 135.58%. McDonald’s’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $2.37 earnings per share. As a group, equities research analysts predict that McDonald’s Co. will post 9.8 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, September 1st will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, August 31st. McDonald’s’s dividend payout ratio (DPR) is presently 67.98%.

McDonald’s Company Profile

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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.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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