First City Capital Management Inc. Purchases 233 Shares of McDonald’s Co. (NYSE:MCD)

First City Capital Management Inc. boosted its position in McDonald’s Co. (NYSE:MCD) by 8.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,839 shares of the fast-food giant’s stock after buying an additional 233 shares during the period. First City Capital Management Inc.’s holdings in McDonald’s were worth $887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mattern Capital Management LLC increased its holdings in McDonald’s by 2.0% during the 4th quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock worth $8,729,000 after purchasing an additional 579 shares in the last quarter. Bell Bank increased its holdings in McDonald’s by 3.0% during the 4th quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock worth $3,681,000 after purchasing an additional 371 shares in the last quarter. Integral Investment Advisors Inc. grew its holdings in shares of McDonald’s by 2.6% in the fourth quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant’s stock valued at $1,888,000 after acquiring an additional 164 shares in the last quarter. Aviva PLC grew its holdings in shares of McDonald’s by 5.6% in the fourth quarter. Aviva PLC now owns 432,406 shares of the fast-food giant’s stock valued at $125,350,000 after acquiring an additional 23,024 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of McDonald’s by 1,547.1% in the fourth quarter. APG Asset Management N.V. now owns 641,950 shares of the fast-food giant’s stock valued at $179,715,000 after acquiring an additional 602,976 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the transaction, the insider now directly owns 12,100 shares in the company, valued at approximately $3,853,850. This trade represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCD. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. KeyCorp upped their target price on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and reduced their target price for the company from $346.00 to $315.00 in a report on Friday. TD Securities reiterated a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research note on Thursday. Finally, Northcoast Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $324.96.

McDonald’s Trading Down 0.5%

Shares of NYSE:MCD opened at $307.44 on Friday. The stock has a market capitalization of $219.83 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The stock’s 50-day moving average price is $312.29 and its 200-day moving average price is $302.57.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 EPS. As a group, research analysts predict that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 annualized dividend and a yield of 2.30%. McDonald’s’s payout ratio is 62.49%.

McDonald’s 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.