Alta Capital Management LLC Raises Stock Position in McDonald’s Co. (NYSE:MCD)

Alta Capital Management LLC increased its stake in McDonald’s Co. (NYSE:MCD) by 9.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,032 shares of the fast-food giant’s stock after acquiring an additional 1,153 shares during the quarter. Alta Capital Management LLC’s holdings in McDonald’s were worth $3,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCD. Caisse DE Depot ET Placement DU Quebec increased its holdings in McDonald’s by 542.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after acquiring an additional 677,139 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in McDonald’s by 43,591.6% during the 4th quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant’s stock worth $171,241,000 after purchasing an additional 589,359 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in McDonald’s during the 3rd quarter worth $121,254,000. Zurich Insurance Group Ltd FI boosted its stake in McDonald’s by 3,580.1% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock worth $81,807,000 after purchasing an additional 261,350 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in McDonald’s by 26,948.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 227,752 shares of the fast-food giant’s stock worth $66,023,000 after purchasing an additional 226,910 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $303.70 on Tuesday. The firm’s 50-day moving average is $294.31 and its two-hundred day moving average is $295.64. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock has a market capitalization of $216.98 billion, a P/E ratio of 26.66, a PEG ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.83. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. As a group, analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 10,500 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the sale, the chief executive officer now directly owns 32,756 shares in the company, valued at $10,155,997.80. This represents a 24.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the sale, the executive vice president now owns 5,564 shares in the company, valued at $1,720,778.28. The trade was a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,504 shares of company stock worth $10,206,575 over the last three months. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCD. KeyCorp lifted their target price on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Citigroup lifted their target price on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Piper Sandler lowered their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Truist Financial lowered their target price on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Morgan Stanley lifted their target price on shares of McDonald’s from $336.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.