Lorne Steinberg Wealth Management Inc. Buys New Position in McDonald’s Co. (NYSE:MCD)

Lorne Steinberg Wealth Management Inc. bought a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, HoldingsChannel reports. The firm bought 1,742 shares of the fast-food giant’s stock, valued at approximately $375,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in McDonald’s by 0.3% during the 4th quarter. BlackRock Inc. now owns 50,747,763 shares of the fast-food giant’s stock worth $10,889,456,000 after purchasing an additional 145,251 shares during the last quarter. Morgan Stanley increased its holdings in McDonald’s by 0.7% during the 4th quarter. Morgan Stanley now owns 8,281,673 shares of the fast-food giant’s stock worth $1,777,081,000 after purchasing an additional 54,685 shares during the last quarter. Norges Bank purchased a new stake in McDonald’s during the 4th quarter worth approximately $1,616,206,000. Magellan Asset Management Ltd increased its holdings in McDonald’s by 4.9% during the 4th quarter. Magellan Asset Management Ltd now owns 6,032,349 shares of the fast-food giant’s stock worth $1,294,422,000 after purchasing an additional 283,952 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in McDonald’s by 7.5% during the 4th quarter. Nuveen Asset Management LLC now owns 5,762,077 shares of the fast-food giant’s stock worth $1,236,427,000 after purchasing an additional 401,671 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

MCD stock traded up $1.56 during trading on Tuesday, reaching $230.41. 37,562 shares of the company’s stock were exchanged, compared to its average volume of 3,353,296. McDonald’s Co. has a 1-year low of $167.85 and a 1-year high of $231.91. The company’s fifty day moving average price is $216.18 and its 200-day moving average price is $215.92. The firm has a market cap of $171.79 billion, a PE ratio of 34.88, a P/E/G ratio of 3.17 and a beta of 0.58.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, January 27th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.07). McDonald’s had a negative return on equity of 53.62% and a net margin of 25.60%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $1.97 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. On average, analysts anticipate that McDonald’s Co. will post 6.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were given a dividend of $1.29 per share. The ex-dividend date was Friday, February 26th. This represents a $5.16 dividend on an annualized basis and a yield of 2.24%. McDonald’s’s dividend payout ratio (DPR) is presently 65.82%.

MCD has been the topic of several analyst reports. UBS Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $230.00 to $240.00 in a report on Monday, December 14th. Wedbush started coverage on McDonald’s in a report on Monday, January 4th. They set an “outperform” rating and a $240.00 price objective on the stock. Atlantic Securities started coverage on McDonald’s in a report on Tuesday. They issued a “neutral” rating and a $237.00 price target for the company. The Goldman Sachs Group started coverage on McDonald’s in a report on Tuesday, January 19th. They issued a “buy” rating and a $237.00 price target for the company. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on McDonald’s in a report on Monday, January 4th. They issued a “neutral” rating and a $230.00 price target for the company. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $232.70.

McDonald’s Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2020, the company operated 39,198 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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Institutional Ownership by Quarter for McDonald`s (NYSE:MCD)

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