McDonald’s Corporation $MCD Shares Acquired by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC boosted its position in McDonald’s Corporation (NYSE:MCD) by 20.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,152 shares of the fast-food giant’s stock after acquiring an additional 2,567 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in McDonald’s were worth $4,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of McDonald’s during the 2nd quarter worth $2,780,712,000. Laurel Wealth Advisors LLC increased its holdings in McDonald’s by 29,382.3% in the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after buying an additional 5,718,087 shares during the last quarter. Soundwatch Capital LLC acquired a new stake in McDonald’s in the second quarter valued at $1,412,069,000. Viking Global Investors LP lifted its holdings in McDonald’s by 171.7% during the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock worth $913,157,000 after buying an additional 1,974,998 shares during the last quarter. Finally, Amundi lifted its holdings in McDonald’s by 96.0% during the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after buying an additional 1,974,751 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCD. Truist Financial increased their price objective on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer raised McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price target for the company in a report on Tuesday, January 6th. Barclays increased their price target on shares of McDonald’s from $358.00 to $372.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. BMO Capital Markets restated an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada assumed coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and an average target price of $328.88.

Insider Activity

In other news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the sale, the chief financial officer owned 26,353 shares of the company’s stock, valued at $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $305.82, for a total transaction of $977,094.90. Following the transaction, the insider directly owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 42,516 shares of company stock valued at $13,036,090. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $306.78 on Tuesday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a market capitalization of $218.47 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.05 and a beta of 0.53. The company has a 50-day simple moving average of $308.14 and a 200-day simple moving average of $305.16.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 EPS. As a group, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. McDonald’s’s dividend payout ratio is 63.48%.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.