Norden Group LLC Buys 1,219 Shares of McDonald’s Co. (NYSE:MCD)

Norden Group LLC boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 31.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,064 shares of the fast-food giant’s stock after acquiring an additional 1,219 shares during the period. Norden Group LLC’s holdings in McDonald’s were worth $1,428,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s during the 1st quarter worth $28,000. Signature Resources Capital Management LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $31,000. Spartan Planning & Wealth Management acquired a new position in shares of McDonald’s in the 3rd quarter valued at $33,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $38,000. Finally, Keener Financial Planning LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.4 %

Shares of MCD stock traded up $1.05 on Friday, reaching $251.05. The stock had a trading volume of 2,103,599 shares, compared to its average volume of 3,416,292. The firm’s 50-day moving average is $261.17 and its two-hundred day moving average is $278.12. The firm has a market capitalization of $180.93 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.81 and a beta of 0.71. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the company posted $2.63 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.66%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Evercore ISI reissued an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a report on Wednesday, March 27th. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Wedbush decreased their price target on shares of McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, April 26th. The Goldman Sachs Group started coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target for the company. Finally, Bank of America reduced their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $313.89.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,593 shares of company stock worth $1,472,518. Insiders own 0.23% of the company’s stock.

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.