KBC Group NV Acquires 3,420 Shares of McDonald’s Corporation $MCD

KBC Group NV raised its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,257 shares of the fast-food giant’s stock after purchasing an additional 3,420 shares during the period. KBC Group NV’s holdings in McDonald’s were worth $43,316,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Advyzon Investment Management LLC increased its holdings in McDonald’s by 238.1% in the 2nd quarter. Advyzon Investment Management LLC now owns 6,651 shares of the fast-food giant’s stock worth $1,943,000 after buying an additional 4,684 shares in the last quarter. VeraBank N.A. boosted its holdings in shares of McDonald’s by 14.3% during the 2nd quarter. VeraBank N.A. now owns 7,678 shares of the fast-food giant’s stock valued at $2,243,000 after acquiring an additional 959 shares during the last quarter. Cascade Financial Partners LLC boosted its holdings in shares of McDonald’s by 2.1% during the 2nd quarter. Cascade Financial Partners LLC now owns 2,934 shares of the fast-food giant’s stock valued at $857,000 after acquiring an additional 60 shares during the last quarter. Weil Company Inc. grew its stake in shares of McDonald’s by 1.1% in the second quarter. Weil Company Inc. now owns 9,384 shares of the fast-food giant’s stock worth $2,742,000 after acquiring an additional 103 shares during the period. Finally, Blackston Financial Advisory Group LLC raised its holdings in shares of McDonald’s by 14.1% during the second quarter. Blackston Financial Advisory Group LLC now owns 3,186 shares of the fast-food giant’s stock valued at $931,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MCD shares. TD Cowen increased their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Piper Sandler restated a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a research note on Wednesday, October 22nd. Barclays cut their price objective on McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Robert W. Baird increased their target price on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Evercore ISI raised their target price on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $323.91.

McDonald’s Stock Down 0.1%

Shares of McDonald’s stock opened at $306.63 on Thursday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock’s 50-day simple moving average is $303.72 and its 200-day simple moving average is $304.76. The company has a market capitalization of $218.37 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the business posted $3.23 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Insider Buying and Selling

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,134 shares of company stock worth $4,570,716. 0.25% of the stock is owned by insiders.

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.