Fisher Asset Management LLC Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

26 Nov 2024, 11:18 by Tristan Rich · The Markets Daily

Fisher Asset Management LLC grew its stake in McDonald’s Co. (NYSE:MCD – Free Report) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 255,748 shares of the fast-food giant’s stock after purchasing an additional 11,743 shares during the period. Fisher Asset Management LLC’s holdings in McDonald’s were worth $77,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the 2nd quarter worth $38,000. Hara Capital LLC purchased a new position in McDonald’s during the third quarter worth about $44,000. Peterson Financial Group Inc. purchased a new position in McDonald’s during the third quarter worth about $58,000. Opal Wealth Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 2.0 %

Shares of MCD opened at $296.15 on Tuesday. The firm has a market capitalization of $212.23 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.86 and a beta of 0.74. The firm’s fifty day simple moving average is $299.84 and its 200-day simple moving average is $278.40. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the firm earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is 58.65%.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 48.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock worth $10,381,296 over the last three months. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent analyst reports. Citigroup upped their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. BMO Capital Markets upped their price target on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Evercore ISI increased their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $319.46.

View Our Latest Research Report on MCD

McDonald’s Company Profile

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