New Century Financial Group LLC Invests $303,000 in McDonald’s Co. (NYSE:MCD)

New Century Financial Group LLC bought a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,076 shares of the fast-food giant’s stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Independent Wealth Network Inc. boosted its stake in shares of McDonald’s by 4.2% during the fourth quarter. Independent Wealth Network Inc. now owns 863 shares of the fast-food giant’s stock worth $256,000 after buying an additional 35 shares during the period. Concentric Wealth Management LLC lifted its position in McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after acquiring an additional 35 shares during the period. Paragon Capital Management Ltd grew its stake in shares of McDonald’s by 2.7% in the 4th quarter. Paragon Capital Management Ltd now owns 1,374 shares of the fast-food giant’s stock valued at $407,000 after purchasing an additional 36 shares during the last quarter. Mechanics Financial Corp increased its holdings in shares of McDonald’s by 0.7% in the fourth quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after purchasing an additional 36 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in shares of McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim cut their price objective on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday. Wedbush reduced their price objective on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Truist Financial lowered their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus cut their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group started coverage on McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.89.

McDonald’s Trading Up 0.9 %

NYSE:MCD opened at $250.00 on Friday. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39. The firm has a market cap of $180.17 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71. The company’s 50-day moving average is $261.17 and its two-hundred day moving average is $278.12.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 EPS. On average, equities research analysts forecast that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of McDonald’s 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 in the company, valued at $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock valued at $1,472,518 over the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s Company 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.