OLD National Bancorp IN Grows Stock Holdings in McDonald’s Corporation $MCD

OLD National Bancorp IN grew its holdings in McDonald’s Corporation (NYSE:MCD) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,834 shares of the fast-food giant’s stock after acquiring an additional 143 shares during the period. OLD National Bancorp IN’s holdings in McDonald’s were worth $10,470,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MCD. Brighton Jones LLC boosted its holdings in shares of McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after acquiring an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after purchasing an additional 52 shares during the period. Quotient Wealth Partners LLC lifted its stake in shares of McDonald’s by 10.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock valued at $817,000 after purchasing an additional 258 shares during the period. Curat Global LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at $97,000. Finally, Procyon Advisors LLC lifted its stake in shares of McDonald’s by 3.5% in the 1st quarter. Procyon Advisors LLC now owns 8,381 shares of the fast-food giant’s stock valued at $2,618,000 after purchasing an additional 282 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were 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 represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 over the last three months. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCD has been the subject of several analyst reports. Bank of America decreased their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Piper Sandler boosted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. Melius initiated coverage on shares of McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. Finally, KeyCorp restated an “overweight” rating and set a $335.00 price objective (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $325.86.

McDonald’s Stock Performance

NYSE:MCD opened at $300.72 on Friday. The company has a fifty day moving average of $306.93 and a two-hundred day moving average of $306.16. The stock has a market capitalization of $214.59 billion, a PE ratio of 25.77, a P/E/G ratio of 3.07 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio is presently 60.67%.

McDonald’s Company 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.