Financial Gravity Wealth Inc. bought a new position in shares of Mcdonald’s Corp (NYSE:MCD) in the first quarter, HoldingsChannel reports. The firm bought 246 shares of the fast-food giant’s stock, valued at approximately $46,000.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Mcdonald’s by 15.3% in the fourth quarter. FMR LLC now owns 21,356,753 shares of the fast-food giant’s stock worth $3,792,318,000 after purchasing an additional 2,831,716 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Mcdonald’s by 16,975.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,998,095 shares of the fast-food giant’s stock worth $84,000 after purchasing an additional 14,910,259 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Mcdonald’s by 2.8% in the fourth quarter. Northern Trust Corp now owns 11,680,799 shares of the fast-food giant’s stock worth $2,074,161,000 after purchasing an additional 317,676 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mcdonald’s by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 9,441,973 shares of the fast-food giant’s stock worth $1,673,764,000 after purchasing an additional 683,872 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Mcdonald’s by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 8,347,633 shares of the fast-food giant’s stock worth $1,482,289,000 after purchasing an additional 383,089 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

A number of research firms have recently commented on MCD. Mizuho upped their price target on shares of Mcdonald’s from $204.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays increased their target price on shares of Mcdonald’s from $208.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. BTIG Research increased their target price on shares of Mcdonald’s to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. SunTrust Banks increased their target price on shares of Mcdonald’s to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Bank of America increased their target price on shares of Mcdonald’s from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $202.39.

NYSE:MCD opened at $198.78 on Tuesday. Mcdonald’s Corp has a fifty-two week low of $153.13 and a fifty-two week high of $201.15. The stock has a market capitalization of $151.39 billion, a PE ratio of 25.16, a PEG ratio of 2.77 and a beta of 0.50.

Mcdonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.01). Mcdonald’s had a net margin of 28.20% and a negative return on equity of 95.31%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the prior year, the business posted $1.79 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that Mcdonald’s Corp will post 8.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, May 31st. Mcdonald’s’s dividend payout ratio is currently 58.73%.

In related news, CFO Kevin M. Ozan sold 40,930 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $195.90, for a total value of $8,018,187.00. Following the completion of the transaction, the chief financial officer now directly owns 42,647 shares of the company’s stock, valued at approximately $8,354,547.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher J. Kempczinski sold 38,729 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $195.21, for a total transaction of $7,560,288.09. Following the completion of the transaction, the insider now directly owns 11,658 shares of the company’s stock, valued at $2,275,758.18. The disclosure for this sale can be found here. Insiders sold a total of 104,449 shares of company stock worth $20,458,931 over the last 90 days. Company insiders own 0.25% of the company’s stock.

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About Mcdonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.

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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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