McDonald’s Co. (NYSE:MCD) Shares Purchased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 280,266 shares of the fast-food giant’s stock after buying an additional 62 shares during the quarter. Lord Abbett & CO. LLC’s holdings in McDonald’s were worth $81,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atala Financial Inc acquired a new stake in McDonald’s during the fourth quarter worth about $26,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s in the 4th quarter valued at about $27,000. Collier Financial acquired a new stake in McDonald’s in the fourth quarter worth approximately $29,000. Fairway Wealth LLC boosted its stake in McDonald’s by 110.0% during the fourth quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in McDonald’s in the 4th quarter valued at about $30,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.7 %

Shares of MCD opened at $316.13 on Friday. The stock’s 50-day moving average price is $307.94 and its 200 day moving average price is $299.70. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The firm has a market capitalization of $225.86 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.10 and a beta of 0.62.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Equities research analysts expect that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Insider Buying and Selling

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the transaction, the executive vice president now directly owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock worth $8,676,247 in the last quarter. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. KeyCorp boosted their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Bank of America lifted their price target on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Truist Financial dropped their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $322.74.

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.