OLD National Bancorp IN Increases Stock Holdings in McDonald’s Corporation $MCD

OLD National Bancorp IN lifted its position in McDonald’s Corporation (NYSE:MCD) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,834 shares of the fast-food giant’s stock after purchasing an additional 143 shares during the quarter. OLD National Bancorp IN’s holdings in McDonald’s were worth $10,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of McDonald’s by 0.3% in the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after purchasing an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after buying an additional 1,344,954 shares during the period. Northern Trust Corp boosted its stake in McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after buying an additional 97,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in McDonald’s by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after buying an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MCD shares. Piper Sandler increased their target price on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Bank of America lowered their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. TD Cowen increased their target price on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Finally, Truist Financial increased their price target on shares of McDonald’s from $356.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $325.86.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 in the last ninety days. 0.25% of the stock is owned by insiders.

McDonald’s Stock Performance

Shares of MCD opened at $300.72 on Friday. The stock has a market capitalization of $214.59 billion, a PE ratio of 25.77, a P/E/G ratio of 3.07 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company’s 50-day simple moving average is $306.93 and its 200-day simple moving average is $306.16.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.97 earnings per share. On average, sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

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.