Rockefeller Capital Management L.P. Raises Stock Holdings in McDonald’s Corporation $MCD

Rockefeller Capital Management L.P. grew its position in shares of McDonald’s Corporation (NYSE:MCD) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 590,559 shares of the fast-food giant’s stock after purchasing an additional 31,654 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in McDonald’s were worth $172,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s during the 1st quarter valued at about $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter valued at $26,000. Decker Retirement Planning Inc. boosted its position in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the period. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $25,000. Finally, GFG Capital LLC acquired a new stake in McDonald’s during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $306.74 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The firm’s 50 day simple moving average is $303.37 and its 200-day simple moving average is $304.64. The company has a market cap of $218.45 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the prior year, the business posted $3.23 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio is presently 63.48%.

Insider Activity at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 15,134 shares of company stock valued at $4,570,716. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCD. KeyCorp restated an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a report on Monday, October 20th. Royal Bank Of Canada initiated coverage on McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price for the company. Guggenheim cut their price objective on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Truist Financial reduced their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $323.91.

About McDonald’s

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.