Wealth Alliance Purchases 95 Shares of McDonald’s Co. (NYSE:MCD)

by · The Markets Daily

Wealth Alliance raised its stake in McDonald’s Co. (NYSE:MCD – Free Report) by 1.7% in the second quarter, Holdings Channel reports. The fund owned 5,610 shares of the fast-food giant’s stock after purchasing an additional 95 shares during the quarter. Wealth Alliance’s holdings in McDonald’s were worth $1,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the first quarter worth about $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the fourth quarter worth about $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter worth about $38,000. Accent Capital Management LLC bought a new position in shares of McDonald’s in the fourth quarter worth about $44,000. Finally, Transcendent Capital Group LLC bought a new position in shares of McDonald’s in the fourth quarter worth about $45,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $293.73 on Wednesday. The stock has a market capitalization of $211.69 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The stock’s 50 day moving average price is $274.83 and its two-hundred day moving average price is $270.53.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the company posted $3.17 earnings per share. McDonald’s’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group increased their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Tigress Financial upped their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Barclays lowered their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Bank of America lowered their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, Citigroup upped their price objective on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $306.11.

Check Out Our Latest Report on MCD

McDonald’s Profile

(Free Report)

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.

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