Great Lakes Advisors LLC Purchases 661 Shares of McDonald’s Co. (NYSE:MCD)

Great Lakes Advisors LLC boosted its position in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,172 shares of the fast-food giant’s stock after buying an additional 661 shares during the period. Great Lakes Advisors LLC’s holdings in McDonald’s were worth $7,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in McDonald’s during the fourth quarter valued at approximately $2,060,325,000. BlackRock Inc. raised its position in McDonald’s by 4.5% during the fourth quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock valued at $14,185,930,000 after purchasing an additional 2,294,758 shares during the period. State Street Corp raised its position in McDonald’s by 2.9% during the fourth quarter. State Street Corp now owns 36,973,382 shares of the fast-food giant’s stock valued at $9,911,455,000 after purchasing an additional 1,033,751 shares during the period. 1832 Asset Management L.P. raised its position in McDonald’s by 47.8% during the fourth quarter. 1832 Asset Management L.P. now owns 2,791,623 shares of the fast-food giant’s stock valued at $753,794,000 after purchasing an additional 903,057 shares during the period. Finally, Renaissance Technologies LLC raised its position in McDonald’s by 99.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,754,981 shares of the fast-food giant’s stock valued at $470,458,000 after purchasing an additional 876,075 shares during the period. 68.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MCD shares. Barclays decreased their price objective on McDonald’s from $289.00 to $285.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. KeyCorp increased their price target on McDonald’s from $285.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Guggenheim increased their price target on McDonald’s to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Jefferies Financial Group reduced their price target on McDonald’s from $306.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Finally, Citigroup increased their price target on McDonald’s from $266.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $284.19.

McDonald’s Price Performance

McDonald’s stock opened at $259.23 on Friday. The stock has a market capitalization of $191.71 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 3.18 and a beta of 0.56. McDonald’s Co. has a 1-year low of $217.68 and a 1-year high of $271.15. The business has a fifty day moving average price of $250.10 and a 200-day moving average price of $247.83.

McDonald’s (NYSE:MCDGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.82 billion. McDonald’s had a negative return on equity of 135.58% and a net margin of 25.77%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.37 EPS. On average, equities research analysts anticipate that McDonald’s Co. will post 9.8 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Thursday, September 1st will be given a $1.38 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. McDonald’s’s payout ratio is 67.98%.

Insider Transactions at McDonald’s

In other news, insider Ian Frederick Borden sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the completion of the sale, the insider now owns 7,131 shares of the company’s stock, valued at approximately $1,824,109.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ian Frederick Borden sold 8,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $255.80, for a total value of $2,046,400.00. Following the completion of the transaction, the insider now owns 7,131 shares in the company, valued at approximately $1,824,109.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $264.02, for a total value of $1,188,090.00. The disclosure for this sale can be found here. Insiders sold 20,191 shares of company stock valued at $5,250,365 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

About McDonald’s

(Get Rating)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

Read More

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCDGet Rating).

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.