Financial Symmetry Inc Takes Position in McDonald’s Co. (NYSE:MCD)

Financial Symmetry Inc purchased a new position in shares of McDonald’s Co. (NYSE:MCD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 890 shares of the fast-food giant’s stock, valued at approximately $264,000. McDonald’s comprises 0.3% of Financial Symmetry Inc’s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCD. Covestor Ltd increased its position in McDonald’s by 103.4% during the first quarter. Covestor Ltd now owns 413 shares of the fast-food giant’s stock worth $102,000 after purchasing an additional 210 shares during the last quarter. NewEdge Advisors LLC grew its stake in McDonald’s by 7.7% during the first quarter. NewEdge Advisors LLC now owns 69,824 shares of the fast-food giant’s stock worth $17,266,000 after buying an additional 5,007 shares during the period. Mackenzie Financial Corp grew its stake in McDonald’s by 4.8% during the first quarter. Mackenzie Financial Corp now owns 516,408 shares of the fast-food giant’s stock worth $127,697,000 after buying an additional 23,643 shares during the period. Stevens Capital Management LP purchased a new stake in McDonald’s during the first quarter worth approximately $1,108,000. Finally, Equitable Holdings Inc. grew its stake in McDonald’s by 59.7% during the first quarter. Equitable Holdings Inc. now owns 9,338 shares of the fast-food giant’s stock worth $2,309,000 after buying an additional 3,490 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $0.10 during trading hours on Friday, hitting $271.08. 958,218 shares of the company’s stock traded hands, compared to its average volume of 3,217,726. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The company’s fifty day simple moving average is $283.44 and its two-hundred day simple moving average is $280.62. The company has a market cap of $195.45 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.12. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. The company had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the firm posted $2.59 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts anticipate that McDonald’s Co. will post 12.33 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, February 29th. McDonald’s’s payout ratio is 57.74%.

Wall Street Analyst Weigh In

MCD has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Oppenheimer reiterated a “market perform” rating on shares of McDonald’s in a research note on Friday, January 5th. StockNews.com downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Morgan Stanley decreased their target price on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Wedbush restated an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a research note on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.72.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the 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 sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

McDonald’s Profile

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.