True North Advisors LLC Has $669,000 Stock Position in McDonald’s Corporation $MCD

True North Advisors LLC raised its holdings in McDonald’s Corporation (NYSE:MCD) by 93.4% during the second quarter, HoldingsChannel reports. The firm owned 2,290 shares of the fast-food giant’s stock after acquiring an additional 1,106 shares during the quarter. True North Advisors LLC’s holdings in McDonald’s were worth $669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MCD. Mascagni Wealth Management Inc. acquired a new position in McDonald’s during the fourth quarter worth about $25,000. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s in the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in shares of McDonald’s during the 1st quarter valued at approximately $26,000. Abound Financial LLC acquired a new position in McDonald’s during the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management bought a new position in McDonald’s in the 4th quarter valued at approximately $31,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $302.29 on Friday. The firm has a market cap of $215.72 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.10 and a beta of 0.50. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a 50 day moving average price of $306.31 and a two-hundred day moving average price of $306.15.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the firm posted $2.97 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. Redburn Atlantic reissued a “sell” rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Truist Financial upped their target price on McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Barclays lifted their price target on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets upped their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $325.86.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock worth $2,273,407 in the last quarter. 0.25% of the stock is currently owned by company insiders.

About McDonald’s

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.