Great Lakes Advisors LLC Grows Stock Position in McDonald’s Co. (NYSE:MCD)

Great Lakes Advisors LLC increased its position in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,172 shares of the fast-food giant’s stock after buying an additional 661 shares during the quarter. Great Lakes Advisors LLC’s holdings in McDonald’s were worth $7,709,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCD. Norges Bank purchased a new stake in shares of McDonald’s during the 4th quarter valued at approximately $2,060,325,000. BlackRock Inc. raised its position in shares of McDonald’s by 4.5% during the 4th quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock valued at $14,185,930,000 after buying an additional 2,294,758 shares during the period. State Street Corp raised its position in shares of McDonald’s by 2.9% during the 4th quarter. State Street Corp now owns 36,973,382 shares of the fast-food giant’s stock valued at $9,911,455,000 after buying an additional 1,033,751 shares during the period. 1832 Asset Management L.P. raised its position in shares of McDonald’s by 47.8% during the 4th quarter. 1832 Asset Management L.P. now owns 2,791,623 shares of the fast-food giant’s stock valued at $753,794,000 after buying an additional 903,057 shares during the period. Finally, Renaissance Technologies LLC raised its position in McDonald’s by 99.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,754,981 shares of the fast-food giant’s stock valued at $470,458,000 after purchasing an additional 876,075 shares during the period. Hedge funds and other institutional investors own 68.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCD. Truist Financial boosted 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. JPMorgan Chase & Co. boosted their target price on McDonald’s from $260.00 to $275.00 in a research report on Tuesday, May 3rd. Guggenheim boosted their target price on McDonald’s to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. KeyCorp upped their price objective on McDonald’s from $285.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. Finally, BMO Capital Markets upped their price objective on McDonald’s from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.19.

Insider Transactions at McDonald’s

In other news, SVP Catherine A. Hoovel sold 2,371 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the completion of the sale, the senior vice president now owns 1,184 shares in the company, valued at $302,654.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $264.02, for a total transaction of $1,188,090.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Catherine A. Hoovel sold 2,371 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 20,191 shares of company stock worth $5,250,365. Company insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $259.23 on Friday. McDonald’s Co. has a 1 year low of $217.68 and a 1 year high of $271.15. The company has a market capitalization of $191.71 billion, a PE ratio of 31.92, a P/E/G ratio of 3.18 and a beta of 0.56. The company has a fifty day moving average of $250.10 and a two-hundred day moving average of $247.83.

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

McDonald’s Announces Dividend

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