Westchester Capital Management Inc. Has $15.14 Million Holdings in McDonald’s Corporation $MCD

Westchester Capital Management Inc. decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 51,819 shares of the fast-food giant’s stock after selling 198 shares during the quarter. McDonald’s accounts for about 3.6% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. Westchester Capital Management Inc.’s holdings in McDonald’s were worth $15,140,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCD. Nuveen LLC bought a new position in shares of McDonald’s during the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD grew its position in 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 valued at $2,917,993,000 after acquiring an additional 1,344,954 shares during the period. Goldman Sachs Group Inc. raised its stake in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after acquiring an additional 407,982 shares during the period. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MCD shares. Royal Bank Of Canada began coverage on shares of McDonald’s in a research report on Wednesday. They set a “sector perform” rating and a $320.00 target price for the company. Melius started coverage on shares of McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 price objective for the company. Guggenheim reduced their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday. Bank of America dropped their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Finally, Piper Sandler boosted their price objective on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and an average target price of $325.18.

Insider Buying and Selling at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,402 shares of company stock valued at $1,973,407. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Up 1.1%

Shares of NYSE MCD opened at $297.07 on Monday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock has a market cap of $211.99 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 3.12 and a beta of 0.50. The company’s fifty day moving average is $306.31 and its 200-day moving average is $305.69.

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

McDonald’s Announces Dividend

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

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.