Clare Market Investments LLC Makes New Investment in McDonald’s Corporation $MCD

Clare Market Investments LLC bought a new stake in McDonald’s Corporation (NYSE:MCD) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,968 shares of the fast-food giant’s stock, valued at approximately $612,000.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in McDonald’s in the 4th quarter worth about $2,890,438,000. Diamant Asset Management Inc. grew its holdings in shares of McDonald’s by 30,979.0% in the first quarter. Diamant Asset Management Inc. now owns 2,596,340 shares of the fast-food giant’s stock valued at $806,917,000 after acquiring an additional 2,587,986 shares in the last quarter. J. Stern & Co. LLP grew its holdings in shares of McDonald’s by 9,867.5% in the fourth quarter. J. Stern & Co. LLP now owns 2,541,008 shares of the fast-food giant’s stock valued at $776,608,000 after acquiring an additional 2,515,515 shares in the last quarter. Viking Global Investors LP increased its position in shares of McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after acquiring an additional 1,974,998 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of McDonald’s by 36.6% during the third quarter. Franklin Resources Inc. now owns 4,396,837 shares of the fast-food giant’s stock valued at $1,336,155,000 after acquiring an additional 1,179,244 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares in the company, valued at approximately $1,744,760.48. This represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares of the company’s stock, valued at $2,198,930.88. The trade was a 40.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 11,307 shares of company stock worth $3,262,622 in the last 90 days. Company insiders own 0.26% of the company’s stock.

McDonald’s Trading Up 2.3%

Shares of McDonald’s stock opened at $285.87 on Tuesday. The company’s 50-day moving average price is $280.25 and its 200-day moving average price is $303.11. McDonald’s Corporation has a 12-month low of $264.53 and a 12-month high of $341.75. The company has a market cap of $203.11 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.80 and a beta of 0.41.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, beating the consensus estimate of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the company earned $2.67 earnings per share. McDonald’s’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that McDonald’s Corporation will post 12.93 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. McDonald’s’s dividend payout ratio is currently 61.34%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. KeyCorp cut their price objective on McDonald’s from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Wells Fargo & Company lowered their target price on McDonald’s from $355.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Sanford C. Bernstein reissued a “market perform” rating on shares of McDonald’s in a report on Monday, June 22nd. Rothschild & Co Redburn upgraded shares of McDonald’s from a “sell” rating to a “neutral” rating and increased their price target for the company from $260.00 to $306.00 in a research report on Thursday, April 23rd. Finally, Robert W. Baird set a $305.00 price objective on shares of McDonald’s in a report on Thursday, May 7th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $335.70.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.