Brookstone Capital Management lifted its position in McDonald’s Co. (NYSE:MCD – Free Report) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,890 shares of the fast-food giant’s stock after buying an additional 797 shares during the quarter. Brookstone Capital Management’s holdings in McDonald’s were worth $11,360,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in McDonald’s by 106,340.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after purchasing an additional 19,217,818 shares during the period. Norges Bank bought a new stake in shares of McDonald’s in the fourth quarter valued at about $2,341,360,000. Arrowstreet Capital Limited Partnership grew its position in McDonald’s by 1,189.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock worth $541,962,000 after buying an additional 2,021,754 shares in the last quarter. Two Sigma Advisers LP grew its position in McDonald’s by 610.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,573,100 shares of the fast-food giant’s stock worth $414,559,000 after buying an additional 1,351,700 shares in the last quarter. Finally, Amundi increased its stake in McDonald’s by 64.1% during the fourth quarter. Amundi now owns 2,663,063 shares of the fast-food giant’s stock valued at $715,858,000 after acquiring an additional 1,039,816 shares during the period. 67.60% of the stock is owned by institutional investors.
Insider Activity at McDonald’s
In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $285.00, for a total value of $285,000.00. Following the sale, the chief marketing officer now directly owns 929 shares in the company, valued at $264,765. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $285.00, for a total value of $285,000.00. Following the completion of the sale, the chief marketing officer now directly owns 929 shares in the company, valued at $264,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Heidi B. Capozzi sold 688 shares of McDonald’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $282.54, for a total value of $194,387.52. Following the transaction, the executive vice president now owns 20,019 shares in the company, valued at approximately $5,656,168.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,149 shares of company stock worth $5,257,201. 0.27% of the stock is currently owned by company insiders.
McDonald’s Stock Performance
McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.40. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.30 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that McDonald’s Co. will post 11.49 EPS for the current year.
McDonald’s Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be paid a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, August 31st. McDonald’s’s payout ratio is 55.93%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on MCD. Royal Bank of Canada lifted their price objective on McDonald’s from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. BMO Capital Markets increased their price objective on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. KeyCorp lifted their target price on shares of McDonald’s from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. Loop Capital raised their price target on shares of McDonald’s from $346.00 to $383.00 in a research note on Friday, July 28th. Finally, Piper Sandler initiated coverage on McDonald’s in a research note on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.17.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.
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