Salem Investment Counselors Inc. Has $14.71 Million Position in McDonald’s Co. (NYSE:MCD)

Salem Investment Counselors Inc. raised its stake in McDonald’s Co. (NYSE:MCD) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,164 shares of the fast-food giant’s stock after buying an additional 497 shares during the quarter. Salem Investment Counselors Inc.’s holdings in McDonald’s were worth $14,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MCD. Roffman Miller Associates Inc. PA lifted its position in shares of McDonald’s by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after purchasing an additional 2,546 shares in the last quarter. Shulman DeMeo Asset Management LLC increased its position in McDonald’s by 12.2% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after acquiring an additional 114 shares during the period. Aigen Investment Management LP bought a new position in McDonald’s in the 4th quarter valued at about $4,286,000. Strait & Sound Wealth Management LLC bought a new position in McDonald’s in the 4th quarter valued at about $211,000. Finally, First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of McDonald’s by 2.8% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock valued at $3,269,000 after purchasing an additional 301 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the sale, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,997 shares of company stock worth $815,145. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

MCD stock traded up $5.59 on Friday, reaching $259.39. The company’s stock had a trading volume of 8,426,647 shares, compared to its average volume of 3,222,010. The business has a fifty day simple moving average of $264.43 and a two-hundred day simple moving average of $280.25. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39. The firm has a market cap of $186.94 billion, a PE ratio of 22.02, a PEG ratio of 2.86 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.63 EPS. As a group, research analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $1.67 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.58%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MCD shares. Evercore ISI reiterated an “outperform” rating and set a $330.00 target price on shares of McDonald’s in a research report on Wednesday, March 27th. Citigroup cut their target price on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Truist Financial cut their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Wedbush lowered their price target on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Erste Group Bank restated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.14.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.