KLP Kapitalforvaltning AS Acquires Shares of 267,056 McDonald’s Co. (NYSE:MCD)

KLP Kapitalforvaltning AS bought a new stake in shares of McDonald’s Co. (NYSE:MCD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 267,056 shares of the fast-food giant’s stock, valued at approximately $77,417,000.

Several other institutional investors also recently added to or reduced their stakes in MCD. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the third quarter valued at approximately $25,000. Atala Financial Inc bought a new position in McDonald’s in the fourth quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s during the fourth quarter worth $27,000. Collier Financial bought a new stake in McDonald’s during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC increased its holdings in shares of McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $305.07 on Friday. The business has a 50 day simple moving average of $298.75 and a two-hundred day simple moving average of $297.38. The stock has a market capitalization of $217.96 billion, a P/E ratio of 26.78, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. As a group, research analysts anticipate that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.32%. McDonald’s’s dividend payout ratio is presently 62.16%.

Insider Buying and Selling at McDonald’s

In related news, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total value of $309,270.00. Following the completion of the transaction, the executive vice president now directly owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the transaction, the chief executive officer now directly owns 32,756 shares in the company, valued at approximately $10,155,997.80. This trade represents a 24.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,504 shares of company stock worth $10,206,575. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. KeyCorp raised their price objective on McDonald’s from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. Truist Financial decreased their price target on McDonald’s from $342.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Loop Capital restated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Finally, Robert W. Baird lifted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.39.

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.