Birinyi Associates Inc. Buys 8,355 Shares of McDonald’s Corporation $MCD

Birinyi Associates Inc. raised its stake in McDonald’s Corporation (NYSE:MCD) by 139.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,355 shares of the fast-food giant’s stock after buying an additional 8,355 shares during the quarter. McDonald’s comprises approximately 1.2% of Birinyi Associates Inc.’s investment portfolio, making the stock its 19th biggest holding. Birinyi Associates Inc.’s holdings in McDonald’s were worth $4,194,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MCD. Vanguard Group Inc. lifted its holdings in shares of McDonald’s by 0.3% in the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after purchasing an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Northern Trust Corp lifted its position in McDonald’s by 1.1% during the 1st quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after buying an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in McDonald’s by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after buying an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in McDonald’s by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.1%

MCD opened at $296.35 on Wednesday. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The stock’s fifty day simple moving average is $306.74 and its 200 day simple moving average is $306.02. The stock has a market cap of $211.47 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 earnings per share. Equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MCD shares. Piper Sandler upped their target price on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Barclays upped their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and a consensus target price of $325.86.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% 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, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock valued at $2,273,407 in the last 90 days. Insiders own 0.25% of the company’s stock.

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.