Capital Performance Advisors LLP Invests $239,000 in McDonald’s Co. (NYSE:MCD)

08 Nov 2024, 19:08 by Michael Walen · The Markets Daily

Capital Performance Advisors LLP purchased a new stake in shares of McDonald’s Co. (NYSE:MCD – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 784 shares of the fast-food giant’s stock, valued at approximately $239,000.

A number of other large investors have also added to or reduced their stakes in MCD. International Assets Investment Management LLC increased its stake in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors boosted its holdings in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. Swedbank AB purchased a new position in McDonald’s in the 1st quarter valued at approximately $348,206,000. Capital World Investors raised its holdings in McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in shares of McDonald’s during the second quarter worth $110,321,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MCD. Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets upped their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Check Out Our Latest Stock Analysis on MCD

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,596 shares of company stock worth $10,698,289. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 1.9 %

Shares of MCD traded up $5.57 during mid-day trading on Friday, hitting $300.23. 827,151 shares of the company’s stock traded hands, compared to its average volume of 3,516,247. The business’s 50-day moving average price is $298.74 and its 200-day moving average price is $276.35. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market capitalization of $215.37 billion, a P/E ratio of 25.87, a PEG ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD – Get Free Report) last announced its 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 net margin of 31.79% and a negative return on equity of 178.99%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s dividend payout ratio is 62.16%.

About McDonald’s

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