Dickmeyer Boyce Financial Management Inc. Purchases Shares of 2,712 McDonald’s Corporation $MCD

Dickmeyer Boyce Financial Management Inc. acquired a new position in shares of McDonald’s Corporation (NYSE:MCD) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 2,712 shares of the fast-food giant’s stock, valued at approximately $843,000.

Several other hedge funds have also modified their holdings of MCD. Peterson Wealth Services lifted its holdings in McDonald’s by 3,294.5% in the fourth quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant’s stock worth $3,600,000 after purchasing an additional 11,432 shares during the period. Harbour Investments Inc. increased its stake in McDonald’s by 84.4% during the 4th quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock valued at $10,853,000 after buying an additional 16,252 shares during the period. Capital International Sarl increased its stake in McDonald’s by 10.4% during the 4th quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant’s stock valued at $19,639,000 after buying an additional 6,079 shares during the period. North Dakota State Investment Board bought a new stake in shares of McDonald’s during the 4th quarter worth about $7,493,000. Finally, Pittenger & Anderson Inc. lifted its stake in shares of McDonald’s by 21.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock worth $6,567,000 after acquiring an additional 3,866 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

NYSE MCD opened at $262.70 on Friday. McDonald’s Corporation has a 1 year low of $260.96 and a 1 year high of $341.75. The business’s fifty day moving average is $276.23 and its two-hundred day moving average is $299.11. The stock has a market capitalization of $186.65 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.83 and a beta of 0.41.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.09. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $2.67 EPS. On average, research analysts forecast that McDonald’s Corporation will post 12.86 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be paid a $1.86 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.8%. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Robert W. Baird set a $305.00 price objective on shares of McDonald’s in a report on Thursday, May 7th. Wells Fargo & Company cut their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Barclays decreased their price target on McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Cfra raised McDonald’s to a “buy” rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of McDonald’s in a report on Monday, June 22nd. Fifteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $335.12.

Insider Activity

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the sale, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 5,252 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the transaction, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. The trade was a 40.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,348 shares of company stock worth $2,355,634. Corporate insiders own 0.26% of the company’s stock.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.