QRG Capital Management Inc. Acquires 508 Shares of McDonald’s Co. (NYSE:MCD)

QRG Capital Management Inc. raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,500 shares of the fast-food giant’s stock after purchasing an additional 508 shares during the quarter. QRG Capital Management Inc.’s holdings in McDonald’s were worth $14,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of McDonald’s by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after acquiring an additional 220,365 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of McDonald’s by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after acquiring an additional 128,800 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of McDonald’s by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock worth $1,682,473,000 after acquiring an additional 52,195 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after acquiring an additional 19,867 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.8 %

Shares of MCD opened at $309.88 on Friday. The business’s 50-day moving average price is $293.75 and its 200-day moving average price is $294.82. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a market cap of $222.07 billion, a PE ratio of 27.21, a P/E/G ratio of 3.10 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, March 3rd. McDonald’s’s dividend payout ratio is presently 62.16%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCD. Wedbush upped their target price on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. TD Securities reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. BMO Capital Markets boosted their price target on shares of McDonald’s from $335.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler cut their price target on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Bank of America boosted their price target on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $323.61.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the transaction, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. This represents a 11.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,504 shares of company stock worth $9,897,305. Insiders own 0.23% of the company’s stock.

About McDonald’s

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.