Folger Nolan Fleming Douglas Capital Management Inc. Boosts Holdings in McDonald’s Corporation $MCD

Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 7.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 54,947 shares of the fast-food giant’s stock after buying an additional 3,618 shares during the quarter. McDonald’s accounts for approximately 1.5% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in McDonald’s were worth $17,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its holdings in McDonald’s by 0.4% during the first quarter. Pathway Financial Advisers LLC now owns 12,639 shares of the fast-food giant’s stock valued at $3,928,000 after buying an additional 53 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in shares of McDonald’s by 7.2% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 4,172 shares of the fast-food giant’s stock worth $1,297,000 after acquiring an additional 282 shares during the last quarter. EWA LLC boosted its stake in shares of McDonald’s by 45.6% during the 1st quarter. EWA LLC now owns 1,175 shares of the fast-food giant’s stock worth $365,000 after acquiring an additional 368 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ grew its position in shares of McDonald’s by 5.3% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 238,555 shares of the fast-food giant’s stock valued at $74,140,000 after acquiring an additional 11,901 shares during the period. Finally, Investment Planning Advisors Inc. grew its position in shares of McDonald’s by 29.3% during the 1st quarter. Investment Planning Advisors Inc. now owns 1,377 shares of the fast-food giant’s stock valued at $428,000 after acquiring an additional 312 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. Robert W. Baird set a $305.00 price objective on McDonald’s in a research note on Thursday, May 7th. Sanford C. Bernstein reiterated a “market perform” rating on shares of McDonald’s in a research report on Monday, June 22nd. Morgan Stanley set a $331.00 price target on McDonald’s in a report on Friday, May 8th. Barclays reduced their price target on McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Cfra raised McDonald’s to a “buy” rating in a research note on Friday, May 8th. Sixteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $335.70.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the sale, the insider owned 7,734 shares of the company’s stock, valued at approximately $2,198,930.88. This trade represents a 40.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,307 shares of company stock worth $3,262,622 in the last three months. 0.26% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

MCD opened at $267.60 on Tuesday. McDonald’s Corporation has a fifty-two week low of $264.53 and a fifty-two week high of $341.75. The firm’s fifty day moving average is $282.64 and its 200 day moving average is $304.21. The stock has a market cap of $190.13 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.69 and a beta of 0.41.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.09. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the firm posted $2.67 EPS. McDonald’s’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict 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 given a dividend of $1.86 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $7.44 annualized dividend and a dividend yield of 2.8%. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.

About McDonald’s

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.