ABN AMRO Bank N.V. Has $20.49 Million Stake in McDonald’s Corporation $MCD

ABN AMRO Bank N.V. raised its stake in McDonald’s Corporation (NYSE:MCDFree Report) by 22.0% in the first quarter, Holdings Channel reports. The fund owned 65,407 shares of the fast-food giant’s stock after purchasing an additional 11,780 shares during the quarter. ABN AMRO Bank N.V.’s holdings in McDonald’s were worth $20,491,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its position in McDonald’s by 274.6% during the 1st quarter. Sterling Capital Management LLC now owns 13,661 shares of the fast-food giant’s stock worth $4,246,000 after acquiring an additional 10,014 shares during the last quarter. Cambient Family Office LLC raised its position in McDonald’s by 2.8% in the first quarter. Cambient Family Office LLC now owns 19,009 shares of the fast-food giant’s stock valued at $5,908,000 after purchasing an additional 522 shares during the last quarter. River Street Advisors LLC boosted its stake in shares of McDonald’s by 30.1% during the first quarter. River Street Advisors LLC now owns 5,983 shares of the fast-food giant’s stock valued at $1,859,000 after purchasing an additional 1,384 shares in the last quarter. Merkkuri Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter valued at about $43,000. Finally, Econ Financial Services Corp grew its holdings in shares of McDonald’s by 4.8% during the first quarter. Econ Financial Services Corp now owns 13,906 shares of the fast-food giant’s stock worth $4,322,000 after purchasing an additional 636 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Up 2.1%

MCD stock opened at $270.21 on Friday. The firm has a market cap of $191.98 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.69 and a beta of 0.41. The company’s fifty day simple moving average is $283.43 and its 200 day simple moving average is $304.54. McDonald’s Corporation has a 12-month low of $264.53 and a 12-month high of $341.75.

McDonald’s (NYSE:MCDGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period last year, the business posted $2.67 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that McDonald’s Corporation will post 12.93 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $7.44 annualized dividend and a yield of 2.8%. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,763 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares in the company, valued at approximately $1,744,760.48. This represents a 30.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total value of $1,493,248.64. Following the transaction, the insider owned 7,734 shares in the company, valued at $2,198,930.88. The trade was a 40.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,307 shares of company stock valued at $3,262,622 in the last ninety days. 0.26% of the stock is currently owned by insiders.

More McDonald’s News

Here are the key news stories impacting McDonald’s this week:

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCD. BTIG Research reaffirmed a “buy” rating and issued a $370.00 price objective on shares of McDonald’s in a research note on Thursday, May 7th. Wells Fargo & Company reduced their target price on shares of McDonald’s from $355.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Tigress Financial upped their price target on shares of McDonald’s from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, March 6th. KeyCorp dropped their price target on shares of McDonald’s from $345.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of McDonald’s in a report on Monday, June 22nd. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $336.26.

Check Out Our Latest Research Report on McDonald’s

McDonald’s Company Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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

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