Dickmeyer Boyce Financial Management Inc. Buys Shares of 2,712 McDonald’s Corporation $MCD

Dickmeyer Boyce Financial Management Inc. bought a new stake in McDonald’s Corporation (NYSE:MCD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,712 shares of the fast-food giant’s stock, valued at approximately $843,000.

Several other large investors have also modified their holdings of MCD. Vanguard Group Inc. raised its stake in shares of McDonald’s by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 72,351,127 shares of the fast-food giant’s stock worth $22,112,675,000 after buying an additional 703,458 shares in the last quarter. State Street Corp grew its holdings in McDonald’s by 2.7% during the fourth quarter. State Street Corp now owns 35,983,997 shares of the fast-food giant’s stock worth $10,997,789,000 after acquiring an additional 959,140 shares during the period. Geode Capital Management LLC grew its holdings in McDonald’s by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 17,038,519 shares of the fast-food giant’s stock worth $5,195,965,000 after acquiring an additional 76,090 shares during the period. Price T Rowe Associates Inc. MD raised its position in McDonald’s by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,474,749 shares of the fast-food giant’s stock worth $2,895,768,000 after acquiring an additional 277,617 shares in the last quarter. Finally, Norges Bank purchased a new position in McDonald’s in the fourth quarter worth $2,890,438,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Tigress Financial boosted their target price on shares of McDonald’s from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. KeyCorp reissued an “overweight” rating on shares of McDonald’s in a report on Wednesday, July 15th. Citigroup lowered their target price on shares of McDonald’s from $375.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Evercore set a $320.00 price target on shares of McDonald’s in a research report on Thursday. Finally, Barclays dropped their price objective on McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $335.12.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $262.70 on Friday. McDonald’s Corporation has a 1 year low of $260.96 and a 1 year high of $341.75. The business has a 50 day moving average price of $276.23 and a 200 day moving average price of $299.11. The company has a market capitalization of $186.65 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.83 and a beta of 0.41.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter last year, the business posted $2.67 earnings per share. McDonald’s’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that McDonald’s Corporation will post 12.86 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, September 1st. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 5,252 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the transaction, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. The trade was a 40.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the completion of the transaction, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,348 shares of company stock valued at $2,355,634 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

About McDonald’s

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.