Canopy Partners LLC Grows Holdings in McDonald’s Co. (NYSE:MCD)

Canopy Partners LLC raised its position in McDonald’s Co. (NYSE:MCD) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,653 shares of the fast-food giant’s stock after buying an additional 246 shares during the period. Canopy Partners LLC’s holdings in McDonald’s were worth $1,059,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MCD. Vanguard Group Inc. increased its holdings in McDonald’s by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 70,169,342 shares of the fast-food giant’s stock worth $20,341,391,000 after buying an additional 526,466 shares during the last quarter. Geode Capital Management LLC grew its position in shares of McDonald’s by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 16,074,438 shares of the fast-food giant’s stock valued at $4,652,768,000 after acquiring an additional 157,458 shares during the period. Norges Bank purchased a new stake in shares of McDonald’s during the 4th quarter worth approximately $2,725,190,000. Bank of New York Mellon Corp raised its holdings in shares of McDonald’s by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock worth $1,682,473,000 after purchasing an additional 52,195 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in McDonald’s by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,694,202 shares of the fast-food giant’s stock valued at $1,650,692,000 after purchasing an additional 129,843 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Truist Financial reduced their price objective on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley dropped their target price on McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. Finally, KeyCorp lifted their price target on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $323.30.

McDonald’s Stock Performance

MCD stock opened at $299.68 on Monday. The firm has a market cap of $214.11 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.10 and a beta of 0.62. The firm has a 50-day simple moving average of $304.34 and a two-hundred day simple moving average of $298.80. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, equities analysts predict that McDonald’s Co. will post 12.25 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, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s payout ratio is 62.16%.

Insider Transactions at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 10,459 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $308.71, for a total value of $3,228,797.89. Following the completion of the sale, the executive vice president now directly owns 4,606 shares in the company, valued at $1,421,918.26. The trade was a 69.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares in the company, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,497 shares of company stock worth $8,461,400 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.