Ameriprise Financial Inc. Purchases 21,168 Shares of McDonald’s Corporation $MCD

Ameriprise Financial Inc. grew its position in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,422,014 shares of the fast-food giant’s stock after acquiring an additional 21,168 shares during the quarter. Ameriprise Financial Inc. owned 0.62% of McDonald’s worth $1,343,501,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of McDonald’s in the second quarter valued at approximately $2,780,712,000. Laurel Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 5,718,087 shares during the last quarter. Soundwatch Capital LLC bought a new position in shares of McDonald’s in the second quarter valued at about $1,412,069,000. Viking Global Investors LP lifted its stake in shares of 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 stake in shares of 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. 70.29% of the stock is owned by institutional investors.

Trending Headlines about McDonald’s

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McDonald’s Price Performance

McDonald’s stock opened at $326.41 on Friday. The firm has a market cap of $231.88 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.90 and a beta of 0.51. The stock’s fifty day moving average price is $320.28 and its two-hundred day moving average price is $311.51. McDonald’s Corporation has a one year low of $283.47 and a one year high of $341.75.

McDonald’s (NYSE:MCDGet Free Report) last released its earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.07. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. McDonald’s had a negative return on equity of 343.90% and a net margin of 31.85%.The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.83 EPS. Sell-side analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $7.44 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio is currently 62.26%.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 6,201 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $333.29, for a total transaction of $2,066,731.29. Following the sale, the executive vice president directly owned 2,291 shares in the company, valued at $763,567.39. This represents a 73.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 4,692 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $331.00, for a total transaction of $1,553,052.00. Following the completion of the transaction, the chief marketing officer directly owned 6,200 shares in the company, valued at approximately $2,052,200. This represents a 43.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 74,143 shares of company stock valued at $24,517,724. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $305.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 24th. Robert W. Baird set a $335.00 target price on McDonald’s in a research report on Thursday, February 12th. Piper Sandler lifted their price target on McDonald’s from $323.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. 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. Finally, Tigress Financial boosted their price target on McDonald’s from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Seventeen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $339.69.

Check Out Our Latest Stock Analysis on McDonald’s

McDonald’s Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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