Allspring Global Investments Holdings LLC Boosts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Allspring Global Investments Holdings LLC grew its position in McDonald’s Co. (NYSE:MCD) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,020 shares of the fast-food giant’s stock after purchasing an additional 10,161 shares during the period. Allspring Global Investments Holdings LLC’s holdings in McDonald’s were worth $29,567,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the period. Norges Bank purchased a new position in McDonald’s in the 4th quarter worth approximately $2,684,899,000. Price T Rowe Associates Inc. MD raised its holdings in McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after buying an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its holdings in McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after acquiring an additional 5,609,736 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. 70.29% of the stock is owned by institutional investors.

McDonald’s Price Performance

Shares of NYSE MCD opened at $289.64 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The company has a market capitalization of $208.74 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The firm’s 50-day moving average is $262.85 and its two-hundred day moving average is $270.77.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the company earned $3.17 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,793 shares of company stock valued at $1,260,106. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCD. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Truist Financial decreased their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Robert W. Baird decreased their target price on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI increased their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Loop Capital cut their price objective on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $303.71.

McDonald’s Company 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.