Oslo Pensjonsforsikring AS Buys New Shares in McDonald’s Corporation $MCD

Oslo Pensjonsforsikring AS bought a new position in shares of McDonald’s Corporation (NYSE:MCD) in the first quarter, Holdings Channel reports. The fund bought 1,976 shares of the fast-food giant’s stock, valued at approximately $614,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Your Advocates Ltd. LLP acquired a new position in shares of McDonald’s in the 4th quarter worth $27,000. Park Place Capital Corp lifted its holdings in shares of McDonald’s by 95.7% during the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock valued at $28,000 after purchasing an additional 45 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in shares of McDonald’s during the fourth quarter valued at $29,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $30,000. Finally, Purpose Unlimited Inc. acquired a new position in shares of McDonald’s in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Key McDonald’s News

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: Several bullish commentaries argue McDonald’s recent weakness may be an opportunity, citing improving top- and bottom-line growth, international resilience, and compressed earnings multiples that could make the stock more attractive. McDonald’s Sell-Off Is Your Opportunity
• Positive Sentiment: Another analyst upgrade says McDonald’s consistency deserves a higher multiple, pointing to faster recent revenue and earnings growth as evidence of a potential turnaround. McDonald’s: Consistency Deserves A Better Multiple (Rating Upgrade)
• Positive Sentiment: Menu innovation remains a supportive storyline, with McDonald’s rolling out new breakfast biscuits, a honey brown butter biscuit, and a Caesar menu that could help drive traffic and keep the brand in the conversation. McDonald’s Just Added 2 New Biscuits To Their Breakfast Menu
• Neutral Sentiment: Recent consumer-interest articles and product reviews highlight new limited-time menu items, but these are not yet proven to materially change earnings expectations. Review: McDonald’s Caesar sauce is the tangy menu addition we didn’t know we needed
• Negative Sentiment: Zacks noted that McDonald’s stock fell while the broader market improved, reinforcing the view that investors are rotating away from the name for now. McDonald’s (MCD) Stock Declines While Market Improves: Some Information for Investors
• Negative Sentiment: Bearish coverage says McDonald’s still may not be cheap enough despite the pullback, suggesting the market remains concerned about upside versus risk. McDonald’s: Still Not Good Enough

McDonald’s Trading Down 1.5%

NYSE:MCD opened at $263.76 on Wednesday. The firm has a market capitalization of $187.40 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.87 and a beta of 0.41. McDonald’s Corporation has a 1-year low of $263.65 and a 1-year high of $341.75. The business’s fifty day moving average price is $276.71 and its 200 day moving average price is $299.70.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the company posted $2.67 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that McDonald’s Corporation will post 12.86 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 2nd. McDonald’s’s dividend payout ratio is 61.34%.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president directly owned 6,268 shares of the company’s stock, valued at $1,744,760.48. This represents a 30.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the sale, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. This represents a 40.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,681 shares of company stock valued at $2,456,440 over the last three months. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

MCD has been the topic of a number of analyst reports. Barclays dropped their price target on McDonald’s from $380.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Sanford C. Bernstein reiterated a “market perform” rating on shares of McDonald’s in a report on Monday, June 22nd. KeyCorp reiterated an “overweight” rating on shares of McDonald’s in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft set a $325.00 price target on shares of McDonald’s in a report on Thursday, July 9th. Finally, Evercore set a $350.00 price target on shares of McDonald’s in a research report on Friday, May 8th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $336.32.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.