Envestnet Asset Management Inc. Purchases 29,058 Shares of McDonald’s Co. (NYSE:MCD)

Envestnet Asset Management Inc. lifted its position in McDonald’s Co. (NYSE:MCD) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,020,704 shares of the fast-food giant’s stock after acquiring an additional 29,058 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of McDonald’s worth $302,649,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCD. Roffman Miller Associates Inc. PA grew its holdings in shares of McDonald’s by 1.7% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 155,740 shares of the fast-food giant’s stock worth $46,179,000 after purchasing an additional 2,546 shares during the last quarter. Shulman DeMeo Asset Management LLC grew its stake in McDonald’s by 12.2% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after acquiring an additional 114 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of McDonald’s during the fourth quarter worth approximately $4,286,000. Strait & Sound Wealth Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $211,000. Finally, First National Bank of Mount Dora Trust Investment Services increased its holdings in McDonald’s by 2.8% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after purchasing an additional 301 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD stock opened at $256.21 on Friday. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The firm has a market capitalization of $184.65 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.94 and a beta of 0.71. The stock’s 50-day simple moving average is $267.91 and its 200-day simple moving average is $282.29.

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

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $1.67 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.61%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Robert W. Baird decreased their price objective on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. StockNews.com downgraded McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Truist Financial decreased their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley decreased their price objective on McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.15.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 directly owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The disclosure for this sale can be found here. Insiders have sold a total of 4,096 shares of company stock worth $1,127,678 over the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Profile

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.