Fullerton Fund Management Co Ltd. Makes New $717,000 Investment in McDonald’s Corporation $MCD
by Teresa Graham · The Cerbat GemFullerton Fund Management Co Ltd. purchased a new stake in shares of McDonald’s Corporation (NYSE:MCD – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,454 shares of the fast-food giant’s stock, valued at approximately $717,000.
Several other institutional investors have also recently made changes to their positions in the business. WealthTrust Axiom LLC increased its holdings in McDonald’s by 1.8% during the first quarter. WealthTrust Axiom LLC now owns 1,946 shares of the fast-food giant’s stock valued at $608,000 after buying an additional 35 shares during the last quarter. Certior Financial Group LLC grew its position in shares of McDonald’s by 2.6% during the 1st quarter. Certior Financial Group LLC now owns 1,367 shares of the fast-food giant’s stock valued at $427,000 after acquiring an additional 35 shares during the period. Alaethes Wealth LLC grew its position in shares of McDonald’s by 3.0% during the 1st quarter. Alaethes Wealth LLC now owns 1,219 shares of the fast-food giant’s stock valued at $381,000 after acquiring an additional 35 shares during the period. Sheets Smith Wealth Management increased its stake in shares of McDonald’s by 1.0% in the 2nd quarter. Sheets Smith Wealth Management now owns 3,604 shares of the fast-food giant’s stock worth $1,053,000 after purchasing an additional 35 shares in the last quarter. Finally, Sunbeam Capital Management LLC raised its holdings in McDonald’s by 3.2% in the 2nd quarter. Sunbeam Capital Management LLC now owns 1,112 shares of the fast-food giant’s stock worth $325,000 after purchasing an additional 35 shares during the period. Institutional investors own 70.29% of the company’s stock.
Insider Activity
In other news, insider Joseph M. Erlinger sold 3,195 shares of McDonald’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the sale, the insider directly owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. The trade was a 34.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,030 shares of company stock worth $12,240,570 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.
McDonald’s Price Performance
Shares of MCD opened at $316.84 on Friday. The firm has a market cap of $225.64 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 3.44 and a beta of 0.52. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a 50 day simple moving average of $304.98 and a two-hundred day simple moving average of $303.78.
McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.McDonald’s’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.23 EPS. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.
McDonald’s Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.3%. McDonald’s’s payout ratio is currently 63.48%.
Wall Street Analyst Weigh In
Several research firms have issued reports on MCD. Royal Bank Of Canada started coverage on McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a research report on Monday, October 20th. Piper Sandler reissued a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a report on Wednesday, October 22nd. Wells Fargo & Company raised their target price on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Stifel Nicolaus upped their price target on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. Eleven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $324.57.
View Our Latest Stock Report on McDonald’s
McDonald’s Company 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.
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