Norris Perne & French LLP MI Invests $268,000 in McDonald’s Co. (NYSE:MCD)

Norris Perne & French LLP MI purchased a new position in shares of McDonald’s Co. (NYSE:MCD) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 952 shares of the fast-food giant’s stock, valued at approximately $268,000.

Several other large investors also recently modified their holdings of MCD. LaSalle St. Investment Advisors LLC increased its stake in shares of McDonald’s by 3.0% during the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 1,660 shares of the fast-food giant’s stock worth $437,000 after purchasing an additional 48 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in McDonald’s by 43.8% in the 3rd quarter. Gotham Asset Management LLC now owns 34,762 shares of the fast-food giant’s stock worth $9,158,000 after buying an additional 10,583 shares during the period. First Dallas Securities Inc. boosted its holdings in McDonald’s by 3.9% in the 3rd quarter. First Dallas Securities Inc. now owns 4,354 shares of the fast-food giant’s stock worth $1,147,000 after buying an additional 163 shares during the period. Waverly Advisors LLC boosted its holdings in McDonald’s by 8.4% in the 3rd quarter. Waverly Advisors LLC now owns 4,957 shares of the fast-food giant’s stock worth $1,306,000 after buying an additional 383 shares during the period. Finally, United Services Automobile Association boosted its holdings in McDonald’s by 12.6% in the 3rd quarter. United Services Automobile Association now owns 19,744 shares of the fast-food giant’s stock worth $5,201,000 after buying an additional 2,204 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America cut their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. UBS Group cut their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a report on Friday, April 5th. Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. BMO Capital Markets cut their price target on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Evercore ISI reissued an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $315.14.

McDonald’s Trading Down 1.3 %

Shares of NYSE:MCD opened at $254.84 on Friday. The company has a market cap of $183.66 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71. The company has a 50-day moving average price of $263.31 and a 200-day moving average price of $279.19. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $2.63 earnings per share. As a group, research analysts forecast that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Activity

In related news, EVP Jonathan Banner sold 800 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,095 shares of company stock valued at $1,100,625. Insiders own 0.23% of the company’s stock.

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.