McDonald’s Co. (NYSE:MCD) Stake Lifted by Jennison Associates LLC

Jennison Associates LLC increased its stake in McDonald’s Co. (NYSE:MCD) by 26.3% in the 1st quarter, HoldingsChannel reports. The fund owned 672,334 shares of the fast-food giant’s stock after acquiring an additional 139,951 shares during the period. Jennison Associates LLC’s holdings in McDonald’s were worth $189,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s during the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC acquired a new stake in McDonald’s during the fourth quarter valued at approximately $31,000. Spartan Planning & Wealth Management acquired a new stake in McDonald’s during the third quarter valued at approximately $33,000. Clear Investment Research LLC acquired a new stake in McDonald’s during the fourth quarter valued at approximately $38,000. Finally, Keener Financial Planning LLC acquired a new stake in McDonald’s during the fourth quarter valued at approximately $39,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,593 shares of company stock worth $1,472,518. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird reduced their price target on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets reduced their price target on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group began coverage on shares of McDonald’s in a research report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price for the company. Bank of America cut their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. Finally, UBS Group cut their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $313.89.

McDonald’s Stock Down 1.3 %

NYSE MCD traded down $3.26 during midday trading on Monday, hitting $247.83. The company had a trading volume of 3,162,608 shares, compared to its average volume of 3,419,815. The stock has a market cap of $178.61 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 2.83 and a beta of 0.71. The firm has a fifty day simple moving average of $260.22 and a two-hundred day simple moving average of $277.37. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.63 earnings per share. As a group, equities analysts predict that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.70%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

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.