Newbridge Financial Services Group Inc. Acquires 569 Shares of McDonald’s Co. (NYSE:MCD)

Newbridge Financial Services Group Inc. lifted its holdings in McDonald’s Co. (NYSE:MCD) by 30.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,455 shares of the fast-food giant’s stock after acquiring an additional 569 shares during the period. Newbridge Financial Services Group Inc.’s holdings in McDonald’s were worth $728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in McDonald’s by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after buying an additional 599,745 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of McDonald’s by 1.7% in the 3rd quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock worth $2,423,773,000 after acquiring an additional 151,161 shares during the last quarter. Norges Bank purchased a new position in shares of McDonald’s during the 4th quarter worth about $2,684,899,000. Price T Rowe Associates Inc. MD raised its position in McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares during the period. Finally, Gallagher Fiduciary Advisors LLC raised its position in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,096 shares of company stock valued at $1,127,678. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE MCD traded down $0.60 during trading on Tuesday, hitting $252.91. The company’s stock had a trading volume of 202,057 shares, compared to its average volume of 3,312,881. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The company has a market cap of $182.27 billion, a PE ratio of 21.52, a P/E/G ratio of 2.86 and a beta of 0.72. The business’s 50 day simple moving average is $265.62 and its 200-day simple moving average is $281.12.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. Analysts expect that McDonald’s Co. will post 12.17 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 annualized dividend and a yield of 2.64%. McDonald’s’s payout ratio is presently 56.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on MCD. BMO Capital Markets dropped their target price on McDonald’s from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley reduced their target price on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. TD Cowen reissued a “buy” rating and set a $305.00 target price on shares of McDonald’s in a research note on Thursday, June 13th. Truist Financial reduced their price target on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Robert W. Baird lowered their price objective on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $315.14.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.