Sweeney & Michel LLC Purchases New Stake in McDonald’s Co. (NYSE:MCD)

Sweeney & Michel LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the 1st quarter, HoldingsChannel reports. The firm acquired 1,680 shares of the fast-food giant’s stock, valued at approximately $504,000.

A number of other institutional investors also recently bought and sold shares of MCD. Mattern Capital Management LLC lifted its holdings in McDonald’s by 2.0% in the fourth quarter. Mattern Capital Management LLC now owns 30,110 shares of the fast-food giant’s stock valued at $8,729,000 after acquiring an additional 579 shares during the last quarter. Bell Bank raised its position in McDonald’s by 3.0% in the fourth quarter. Bell Bank now owns 12,699 shares of the fast-food giant’s stock valued at $3,681,000 after purchasing an additional 371 shares during the period. YANKCOM Partnership purchased a new stake in McDonald’s in the fourth quarter valued at $1,628,000. Integral Investment Advisors Inc. lifted its stake in shares of McDonald’s by 2.6% in the 4th quarter. Integral Investment Advisors Inc. now owns 6,512 shares of the fast-food giant’s stock valued at $1,888,000 after purchasing an additional 164 shares during the last quarter. Finally, Aviva PLC grew its holdings in shares of McDonald’s by 5.6% during the 4th quarter. Aviva PLC now owns 432,406 shares of the fast-food giant’s stock worth $125,350,000 after purchasing an additional 23,024 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 11,161 shares in the company, valued at $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

McDonald’s Trading Up 0.6%

Shares of NYSE MCD opened at $313.68 on Monday. The stock has a market cap of $224.29 billion, a P/E ratio of 27.54, a PEG ratio of 3.10 and a beta of 0.57. The business’s fifty day simple moving average is $312.40 and its 200-day simple moving average is $302.06. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $326.32.

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

McDonald’s Dividend Announcement

The company 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. The ex-dividend date is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald’s’s payout ratio is 62.49%.

Analyst Ratings Changes

Several brokerages recently issued reports on MCD. Truist Financial set a $350.00 price objective on shares of McDonald’s in a report on Friday, May 2nd. Barclays lifted their price target on shares of McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. KeyCorp boosted their price target on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. TD Securities reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Monday, February 10th. Finally, Citigroup lifted their target price on shares of McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Twelve research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $325.91.

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.