Hennessy Advisors Inc. Acquires 24,750 Shares of McDonald’s Co. (NYSE:MCD)

Hennessy Advisors Inc. raised its holdings in McDonald’s Co. (NYSE:MCD) by 383.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,200 shares of the fast-food giant’s stock after purchasing an additional 24,750 shares during the period. Hennessy Advisors Inc.’s holdings in McDonald’s were worth $9,746,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCD. Granite Bay Wealth Management LLC lifted its holdings in shares of McDonald’s by 3.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant’s stock worth $309,000 after acquiring an additional 33 shares during the period. CVA Family Office LLC lifted its holdings in shares of McDonald’s by 1.9% during the 1st quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant’s stock worth $560,000 after acquiring an additional 33 shares during the period. Northeast Financial Consultants Inc lifted its holdings in shares of 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 worth $2,170,000 after acquiring an additional 34 shares during the period. Tealwood Asset Management Inc. lifted its holdings in shares of McDonald’s by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 8,117 shares of the fast-food giant’s stock worth $2,535,000 after acquiring an additional 34 shares during the period. Finally, Pettee Investors Inc. lifted its holdings in shares of McDonald’s by 0.7% during the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant’s stock worth $1,566,000 after acquiring an additional 35 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the transaction, the insider now directly owns 11,161 shares of the company’s stock, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Northcoast Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $345.00 price objective (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Erste Group Bank downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Robert W. Baird increased their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $321.79.

McDonald’s Stock Down 0.5%

Shares of NYSE MCD opened at $301.57 on Friday. The firm has a market cap of $215.63 billion, a PE ratio of 26.48, a P/E/G ratio of 3.10 and a beta of 0.56. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32. The company’s fifty day simple moving average is $311.95 and its 200 day simple moving average is $302.92.

McDonald’s (NYSE:MCD) last issued 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. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. McDonald’s’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

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.