Dai ichi Life Insurance Company Ltd Raises Stake in McDonald’s Co. (NYSE:MCD)

Dai ichi Life Insurance Company Ltd raised its position in McDonald’s Co. (NYSE:MCD) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,278 shares of the fast-food giant’s stock after acquiring an additional 19,596 shares during the quarter. McDonald’s makes up about 0.9% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 14th biggest holding. Dai ichi Life Insurance Company Ltd’s holdings in McDonald’s were worth $42,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Journey Strategic Wealth LLC increased its holdings in shares of McDonald’s by 101.0% in the 4th quarter. Journey Strategic Wealth LLC now owns 1,837 shares of the fast-food giant’s stock valued at $545,000 after acquiring an additional 923 shares during the period. Aigen Investment Management LP acquired a new position in shares of McDonald’s in the 4th quarter valued at $4,286,000. Keystone Financial Group increased its holdings in shares of McDonald’s by 5.9% in the 4th quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock valued at $2,667,000 after acquiring an additional 499 shares during the period. Franklin Resources Inc. boosted its position in shares of McDonald’s by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 3,151,095 shares of the fast-food giant’s stock worth $934,331,000 after purchasing an additional 25,131 shares in the last quarter. Finally, Bard Financial Services Inc. boosted its position in shares of McDonald’s by 2.1% during the 4th quarter. Bard Financial Services Inc. now owns 60,460 shares of the fast-food giant’s stock worth $17,927,000 after purchasing an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of several research analyst reports. Bank of America boosted their target price on shares of McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. UBS Group decreased their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. BMO Capital Markets decreased their price objective on shares of McDonald’s from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Barclays decreased their price objective on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Finally, Truist Financial decreased their price objective on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $317.74.

Insider Buying and Selling

In related news, EVP Jonathan Banner sold 800 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,997 shares of company stock valued at $836,300. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.7 %

Shares of NYSE MCD traded down $2.00 on Tuesday, reaching $265.87. 2,270,688 shares of the company traded hands, compared to its average volume of 3,289,127. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The company has a 50 day moving average of $274.60 and a 200 day moving average of $283.66. The stock has a market capitalization of $191.61 billion, a PE ratio of 22.74, a P/E/G ratio of 3.04 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.63 EPS. As a group, research analysts expect that McDonald’s Co. will post 12.17 earnings per share for the current year.

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.