Everence Capital Management Inc. Makes New $3.30 Million Investment in McDonald’s Co. (NYSE:MCD)

Everence Capital Management Inc. bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,717 shares of the fast-food giant’s stock, valued at approximately $3,299,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MCD. Boothbay Fund Management LLC purchased a new stake in shares of McDonald’s in the third quarter valued at about $761,000. First City Capital Management Inc. lifted its holdings in shares of McDonald’s by 89.8% in the third quarter. First City Capital Management Inc. now owns 2,431 shares of the fast-food giant’s stock valued at $553,000 after purchasing an additional 1,150 shares in the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of McDonald’s in the third quarter valued at about $1,290,000. Point72 Asset Management L.P. purchased a new stake in shares of McDonald’s in the third quarter valued at about $21,862,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of McDonald’s by 12.2% in the third quarter. Cubist Systematic Strategies LLC now owns 34,594 shares of the fast-food giant’s stock valued at $7,593,000 after purchasing an additional 3,774 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Several brokerages recently issued reports on MCD. Oppenheimer raised shares of McDonald’s from a “market perform” rating to an “outperform” rating and set a $240.00 price objective on the stock in a research note on Thursday, January 7th. The Goldman Sachs Group began coverage on shares of McDonald’s in a research note on Tuesday, January 19th. They set a “buy” rating and a $237.00 price objective on the stock. Atlantic Securities began coverage on shares of McDonald’s in a research note on Tuesday. They set a “neutral” rating and a $237.00 price objective on the stock. Smith Barney Citigroup began coverage on shares of McDonald’s in a research note on Monday, January 4th. They set a “neutral” rating and a $230.00 price objective on the stock. Finally, Stephens upped their price objective on shares of McDonald’s from $225.00 to $232.00 and gave the company an “equal weight” rating in a research note on Thursday, January 7th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $232.70.

MCD traded down $2.74 during trading hours on Thursday, reaching $229.87. 82,414 shares of the stock traded hands, compared to its average volume of 3,339,065. The firm’s fifty day simple moving average is $216.84 and its two-hundred day simple moving average is $216.02. The company has a market cap of $171.38 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 3.17 and a beta of 0.58. McDonald’s Co. has a fifty-two week low of $167.85 and a fifty-two week high of $232.81.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, January 27th. The fast-food giant reported $1.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.07). The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.35 billion. McDonald’s had a net margin of 25.60% and a negative return on equity of 53.62%. McDonald’s’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.97 earnings per share. Analysts predict that McDonald’s Co. will post 6.16 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, February 26th. McDonald’s’s payout ratio is 65.82%.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2020, the company operated 39,198 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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

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