Thrivent Financial for Lutherans Raises Holdings in McDonald’s Co. (NYSE:MCD)

Thrivent Financial for Lutherans grew its position in shares of McDonald’s Co. (NYSE:MCD) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 195,638 shares of the fast-food giant’s stock after purchasing an additional 17,995 shares during the quarter. Thrivent Financial for Lutherans’ holdings in McDonald’s were worth $49,856,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in shares of McDonald’s during the second quarter worth about $6,612,000. California State Teachers Retirement System grew its holdings in shares of McDonald’s by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after buying an additional 15,863 shares during the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after buying an additional 6,031 shares during the last quarter. BNP Paribas purchased a new position in shares of McDonald’s during the first quarter worth about $7,898,000. Finally, First Long Island Investors LLC grew its holdings in shares of McDonald’s by 16.6% during the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after buying an additional 7,707 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. In the last three months, insiders sold 5,193 shares of company stock worth $1,403,593. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Finally, Evercore ISI lifted their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $296.83 on Monday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The company 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. The business has a 50 day moving average price of $277.30 and a 200 day moving average price of $270.57.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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 business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

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

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.