Global Assets Advisory LLC Invests $53.35 Million in McDonald's Co. (NYSE:MCD)

Global Assets Advisory LLC purchased a new position in shares of McDonald's Co. (NYSE:MCD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 189,210 shares of the fast-food giant's stock, valued at approximately $53,348,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Norges Bank bought a new position in McDonald's during the fourth quarter worth about $2,684,899,000. Gallagher Fiduciary Advisors LLC lifted its stake in McDonald's by 141,160.9% during the fourth 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. International Assets Investment Management LLC lifted its stake in McDonald's by 10,702.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant's stock worth $644,739,000 after purchasing an additional 2,154,297 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in McDonald's by 15.5% during the fourth 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, CIBC Private Wealth Group LLC raised its stake in shares of McDonald's by 552.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant's stock valued at $234,729,000 after acquiring an additional 670,261 shares during the last quarter. Institutional investors own 70.29% of the company's stock.

Insider Activity

In other 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 sale, the insider now directly owns 16,977 shares of the company's stock, valued at approximately $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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. Also, insider Joseph M. Erlinger sold 1,099 shares of the company's stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,095 shares of company stock valued at $1,100,625. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MCD shares. UBS Group cut their target price on shares of McDonald's from $340.00 to $335.00 and set a "buy" rating for the company in a research note on Friday, April 5th. The Goldman Sachs Group started coverage on shares of McDonald's in a research note on Thursday, June 13th. They issued a "neutral" rating and a $288.00 target price for the company. Argus reiterated a "hold" rating on shares of McDonald's in a research note on Monday, March 25th. Robert W. Baird cut their target price on shares of McDonald's from $305.00 to $300.00 and set an "outperform" rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial cut their target price on shares of McDonald's from $337.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $315.14.

McDonald's Price Performance

NYSE:MCD traded up $0.95 on Monday, hitting $260.34. 3,899,751 shares of the company's stock were exchanged, compared to its average volume of 3,389,175. The firm has a 50-day moving average price of $264.32 and a 200-day moving average price of $280.02. McDonald's Co. has a 52 week low of $245.73 and a 52 week high of $302.39. The company has a market cap of $187.62 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.71.

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

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.57%. McDonald's's payout ratio is 56.71%.

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.