Carnegie Investment Counsel Buys 725 Shares of McDonald’s Corporation $MCD

Carnegie Investment Counsel boosted its stake in McDonald’s Corporation (NYSE:MCD) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,365 shares of the fast-food giant’s stock after acquiring an additional 725 shares during the period. Carnegie Investment Counsel’s holdings in McDonald’s were worth $15,884,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in McDonald’s by 0.3% in the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after acquiring an additional 239,753 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after acquiring an additional 1,344,954 shares during the last quarter. Northern Trust Corp boosted its holdings in McDonald’s by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after acquiring an additional 97,966 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in McDonald’s by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after acquiring an additional 123,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after acquiring an additional 815,768 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research analyst reports. Morgan Stanley set a $335.00 price target on McDonald’s in a report on Friday, October 17th. Evercore ISI increased their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Truist Financial cut their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Stifel Nicolaus increased their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Finally, Melius initiated coverage on McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $324.50.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were 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 directly owned 6,858 shares of the company’s stock, valued at $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 5,463 shares of company stock valued at $1,692,186 over the last ninety days. 0.25% of the stock is owned by company insiders.

McDonald’s Stock Down 1.0%

Shares of NYSE:MCD opened at $307.01 on Friday. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The stock’s 50 day moving average is $306.55 and its 200-day moving average is $305.56. The firm has a market capitalization of $219.08 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.28 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its earnings results 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 negative return on equity of 225.52% and a net margin of 32.21%.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 earned $2.97 earnings per share. McDonald’s’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s payout ratio is currently 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.