McDonald’s Co. (NYSE:MCD) Shares Purchased by Abacus Planning Group Inc.

Abacus Planning Group Inc. increased its position in shares of McDonald’s Co. (NYSE:MCD) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,650 shares of the fast-food giant’s stock after purchasing an additional 40 shares during the period. Abacus Planning Group Inc.’s holdings in McDonald’s were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in McDonald’s in the fourth quarter worth approximately $2,725,190,000. GAMMA Investing LLC grew its holdings in shares of McDonald’s by 39,039.7% during the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock worth $1,092,645,000 after purchasing an additional 3,488,982 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of McDonald’s during the 4th quarter worth about $703,074,000. Castlekeep Investment Advisors LLC purchased a new stake in McDonald’s in the 4th quarter valued at about $350,935,000. Finally, Northern Trust Corp lifted its position in McDonald’s by 11.2% in the fourth quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after buying an additional 895,896 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Down 0.5%

Shares of NYSE MCD opened at $307.44 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32. The company has a market cap of $219.83 billion, a P/E ratio of 26.99, a P/E/G ratio of 3.10 and a beta of 0.56. The business’s 50 day moving average is $312.29 and its two-hundred day moving average is $302.66.

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

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s payout ratio is presently 62.49%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 11,161 shares in the company, valued at approximately $3,516,496.27. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MCD shares. TD Securities reiterated a “hold” rating and issued a $305.00 target price on shares of McDonald’s in a report on Thursday. BMO Capital Markets restated an “outperform” rating and set a $345.00 price target (up from $340.00) on shares of McDonald’s in a research report on Monday, May 5th. Northcoast Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. Piper Sandler raised their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Robert W. Baird boosted their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.96.

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.