Holderness Investments Co. Has $3.21 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Holderness Investments Co. boosted its stake in McDonald’s Co. (NYSE:MCD) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,595 shares of the fast-food giant’s stock after purchasing an additional 45 shares during the quarter. Holderness Investments Co.’s holdings in McDonald’s were worth $3,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gallagher Fiduciary Advisors LLC raised its position in shares of McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after buying an additional 5,609,736 shares in the last quarter. Capital Research Global Investors increased its stake in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Swedbank AB acquired a new position in McDonald’s during the first quarter valued at approximately $348,206,000. Capital World Investors lifted its stake in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $296.83 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The business has a 50 day simple moving average of $277.30 and a 200 day simple moving average of $270.73. The stock has a market capitalization of $213.92 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.88 and a beta of 0.72.

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

McDonald’s Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCD. BMO Capital Markets dropped their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Guggenheim increased their price target on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on 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 owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The disclosure for this sale can be found here. Insiders sold a total of 5,193 shares of company stock worth $1,403,593 in the last three months. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.