Madison Asset Management LLC Buys 3,016 Shares of McDonald’s Corporation $MCD

Madison Asset Management LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 7.3% during the first quarter, HoldingsChannel reports. The firm owned 44,382 shares of the fast-food giant’s stock after buying an additional 3,016 shares during the period. Madison Asset Management LLC’s holdings in McDonald’s were worth $13,793,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MCD. Peterson Wealth Services raised its stake in shares of McDonald’s by 3,294.5% during the fourth quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant’s stock worth $3,600,000 after acquiring an additional 11,432 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of McDonald’s by 84.4% in the 4th quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock worth $10,853,000 after acquiring an additional 16,252 shares during the last quarter. Capital International Sarl boosted its stake in shares of McDonald’s by 10.4% in the 4th quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant’s stock valued at $19,639,000 after purchasing an additional 6,079 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of McDonald’s in the 4th quarter valued at $7,493,000. Finally, Pittenger & Anderson Inc. grew its holdings in shares of McDonald’s by 21.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock valued at $6,567,000 after purchasing an additional 3,866 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Down 1.5%

Shares of MCD opened at $263.76 on Wednesday. The stock has a market capitalization of $187.40 billion, a P/E ratio of 21.74, a PEG ratio of 2.87 and a beta of 0.41. The firm has a fifty day simple moving average of $276.71 and a two-hundred day simple moving average of $299.70. McDonald’s Corporation has a twelve month low of $263.65 and a twelve month high of $341.75.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter last year, the firm earned $2.67 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that McDonald’s Corporation will post 12.86 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 2nd. McDonald’s’s dividend payout ratio is currently 61.34%.

Analysts Set New Price Targets

A number of brokerages recently commented on MCD. Sanford C. Bernstein reiterated a “market perform” rating on shares of McDonald’s in a research report on Monday, June 22nd. Royal Bank Of Canada restated a “sector perform” rating on shares of McDonald’s in a research report on Tuesday, June 23rd. Rothschild & Co Redburn upgraded McDonald’s from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $260.00 to $306.00 in a report on Thursday, April 23rd. TD Cowen reissued a “hold” rating on shares of McDonald’s in a research note on Friday, June 12th. Finally, BTIG Research restated a “buy” rating and set a $370.00 target price on shares of McDonald’s in a report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.32.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Several bullish commentaries argue McDonald’s recent weakness may be an opportunity, citing improving top- and bottom-line growth, international resilience, and compressed earnings multiples that could make the stock more attractive. McDonald’s Sell-Off Is Your Opportunity
• Positive Sentiment: Another analyst upgrade says McDonald’s consistency deserves a higher multiple, pointing to faster recent revenue and earnings growth as evidence of a potential turnaround. McDonald’s: Consistency Deserves A Better Multiple (Rating Upgrade)
• Positive Sentiment: Menu innovation remains a supportive storyline, with McDonald’s rolling out new breakfast biscuits, a honey brown butter biscuit, and a Caesar menu that could help drive traffic and keep the brand in the conversation. McDonald’s Just Added 2 New Biscuits To Their Breakfast Menu
• Neutral Sentiment: Recent consumer-interest articles and product reviews highlight new limited-time menu items, but these are not yet proven to materially change earnings expectations. Review: McDonald’s Caesar sauce is the tangy menu addition we didn’t know we needed
• Negative Sentiment: Zacks noted that McDonald’s stock fell while the broader market improved, reinforcing the view that investors are rotating away from the name for now. McDonald’s (MCD) Stock Declines While Market Improves: Some Information for Investors
• Negative Sentiment: Bearish coverage says McDonald’s still may not be cheap enough despite the pullback, suggesting the market remains concerned about upside versus risk. McDonald’s: Still Not Good Enough

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 5,252 shares of the company’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 transaction of $1,493,248.64. Following the completion of the transaction, the insider owned 7,734 shares of the company’s stock, valued at $2,198,930.88. This represents a 40.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,681 shares of company stock worth $2,456,440 over the last three months. 0.26% of the stock is owned by 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.