Busey Bank Purchases 1,681 Shares of McDonald’s Corporation $MCD

Busey Bank boosted its stake in McDonald’s Corporation (NYSE:MCD) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,554 shares of the fast-food giant’s stock after purchasing an additional 1,681 shares during the quarter. Busey Bank’s holdings in McDonald’s were worth $13,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Evergreen Private Wealth LLC raised its stake in McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. Park Place Capital Corp raised its stake in McDonald’s by 95.7% in the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock valued at $28,000 after purchasing an additional 45 shares in the last quarter. Painted Porch Advisors LLC raised its stake in McDonald’s by 735.7% in the third quarter. Painted Porch Advisors LLC now owns 117 shares of the fast-food giant’s stock valued at $36,000 after purchasing an additional 103 shares in the last quarter. Davis Capital Management purchased a new stake in McDonald’s in the third quarter valued at approximately $37,000. Finally, Saranac Partners Ltd purchased a new stake in McDonald’s in the third quarter valued at approximately $37,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of NYSE MCD opened at $311.78 on Monday. McDonald’s Corporation has a one year low of $283.47 and a one year high of $341.75. The firm’s 50 day simple moving average is $319.62 and its two-hundred day simple moving average is $311.90. The stock has a market capitalization of $221.63 billion, a P/E ratio of 26.09, a PEG ratio of 2.81 and a beta of 0.53.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, February 11th. The fast-food giant reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.07. McDonald’s had a net margin of 31.85% and a negative return on equity of 343.90%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the business earned $2.83 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 62.26%.

Insider Buying and Selling at McDonald’s

In other news, EVP Jonathan Banner sold 6,201 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $333.29, for a total value of $2,066,731.29. Following the transaction, the executive vice president owned 2,291 shares in the company, valued at approximately $763,567.39. This trade represents a 73.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 26,277 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $331.35, for a total transaction of $8,706,883.95. Following the completion of the transaction, the chief executive officer owned 22,900 shares in the company, valued at $7,587,915. This represents a 53.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,657 shares of company stock valued at $23,723,307 over the last ninety days. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $340.00 target price on shares of McDonald’s in a research note on Thursday, February 12th. Truist Financial raised their target price on shares of McDonald’s from $356.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Barclays raised their target price on shares of McDonald’s from $372.00 to $380.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. UBS Group increased their price target on shares of McDonald’s from $350.00 to $365.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Citigroup increased their price target on shares of McDonald’s from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Seventeen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus price target of $339.69.

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.