Westwood Holdings Group Inc. Acquires 266,707 Shares of McDonald’s Co. (NYSE:MCD)

Westwood Holdings Group Inc. grew its position in McDonald’s Co. (NYSE:MCD) by 3,846.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,640 shares of the fast-food giant’s stock after acquiring an additional 266,707 shares during the period. Westwood Holdings Group Inc.’s holdings in McDonald’s were worth $69,734,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the first quarter valued at approximately $28,000. Clear Investment Research LLC bought a new position in McDonald’s in the 4th quarter worth approximately $38,000. Kings Path Partners LLC acquired a new position in McDonald’s during the 2nd quarter worth $38,000. Accent Capital Management LLC acquired a new position in McDonald’s during the 4th quarter worth $44,000. Finally, Transcendent Capital Group LLC acquired a new position in McDonald’s during the 4th quarter worth $45,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,193 shares of company stock worth $1,403,593. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $296.77 on Friday. The firm’s fifty day moving average price is $277.30 and its two-hundred day moving average price is $270.88. The stock has a market cap of $213.88 billion, a PE ratio of 25.19, a PEG ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 EPS. As a group, sell-side analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.67 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analysts Set New Price Targets

Several research firms have issued reports on MCD. Truist Financial reduced their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Tuesday, September 10th. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated 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. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.11.

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.