Fragasso Financial Advisors Inc Has $1.49 Million Stake in McDonald’s Co. (NYSE:MCD)

Fragasso Financial Advisors Inc grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.8% in the first quarter, HoldingsChannel.com reports. The firm owned 4,774 shares of the fast-food giant’s stock after purchasing an additional 387 shares during the period. Fragasso Financial Advisors Inc’s holdings in McDonald’s were worth $1,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northeast Financial Consultants Inc lifted its position in McDonald’s by 0.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant’s stock valued at $2,170,000 after acquiring an additional 34 shares during the period. Pettee Investors Inc. increased its stake in shares of McDonald’s by 0.7% during the fourth quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock valued at $1,566,000 after purchasing an additional 35 shares in the last quarter. Covestor Ltd lifted its holdings in shares of McDonald’s by 4.1% during the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant’s stock valued at $261,000 after purchasing an additional 35 shares during the last quarter. Blue Barn Wealth LLC grew its stake in shares of McDonald’s by 4.3% in the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant’s stock worth $252,000 after buying an additional 36 shares during the last quarter. Finally, Diligent Investors LLC grew its stake in shares of McDonald’s by 0.8% in the 4th quarter. Diligent Investors LLC now owns 4,746 shares of the fast-food giant’s stock worth $1,376,000 after buying an additional 36 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Truist Financial set a $350.00 price target on shares of McDonald’s in a research note on Friday, May 2nd. KeyCorp increased their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Barclays lifted their target price on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Robert W. Baird increased their price target on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $325.91.

McDonald’s Price Performance

Shares of MCD opened at $313.68 on Monday. The firm has a market capitalization of $224.29 billion, a P/E ratio of 27.54, a PEG ratio of 3.10 and a beta of 0.57. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The business has a fifty day moving average of $312.40 and a 200 day moving average of $302.06.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same period last year, the firm posted $2.70 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts expect that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.26%. McDonald’s’s dividend payout ratio is currently 62.49%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now owns 12,100 shares of the company’s stock, valued at $3,853,850. The trade was a 7.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

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.