Rydar Equities Inc. Buys Shares of 6,916 McDonald’s Corporation $MCD

Rydar Equities Inc. purchased a new stake in McDonald’s Corporation (NYSE:MCD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,916 shares of the fast-food giant’s stock, valued at approximately $2,006,000. McDonald’s makes up 1.6% of Rydar Equities Inc.’s holdings, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. Norges Bank purchased a new position in McDonald’s during the 2nd quarter valued at about $2,780,712,000. Laurel Wealth Advisors LLC increased its stake in shares of McDonald’s by 29,382.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after purchasing an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth approximately $1,412,069,000. Viking Global Investors LP lifted its stake in McDonald’s by 171.7% in the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after buying an additional 1,974,998 shares in the last quarter. Finally, Amundi grew its holdings in McDonald’s by 96.0% during the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock valued at $1,188,147,000 after buying an additional 1,974,751 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of a number of analyst reports. Truist Financial cut their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Sanford C. Bernstein reiterated a “market perform” rating on shares of McDonald’s in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Robert W. Baird raised their price target on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Stifel Nicolaus lifted their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Eleven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and an average target price of $324.57.

Insider Activity at McDonald’s

In related news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer owned 26,353 shares in the company, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,030 shares of company stock worth $12,240,570. 0.25% of the stock is owned by insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $316.84 on Monday. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The firm’s 50-day simple moving average is $304.98 and its 200-day simple moving average is $303.64. The firm has a market cap of $225.64 billion, a P/E ratio of 27.03, a PEG ratio of 3.52 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $3.23 EPS. Analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company 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 $1.86 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio is 63.48%.

About McDonald’s

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.