Sweeney & Michel LLC Acquires Shares of 823 McDonald’s Co. (NYSE:MCD)

Sweeney & Michel LLC bought a new position in shares of McDonald’s Co. (NYSE:MCD) in the 1st quarter, Holdings Channel reports. The fund bought 823 shares of the fast-food giant’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atomi Financial Group Inc. acquired a new stake in McDonald’s in the first quarter valued at about $277,000. EP Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the first quarter valued at about $973,000. Golden State Equity Partners purchased a new position in McDonald’s in the first quarter valued at about $1,854,000. BKA Wealth Consulting Inc. acquired a new stake in shares of McDonald’s during the 1st quarter valued at approximately $1,288,000. Finally, Fortis Group Advisors LLC acquired a new position in McDonald’s during the first quarter worth $277,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 4,487 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the sale, the insider now owns 11,412 shares in the company, valued at $3,399,292.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Marion K. Gross sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $289.52, for a total transaction of $868,560.00. Following the completion of the sale, the executive vice president now directly owns 1,605 shares of the company’s stock, valued at approximately $464,679.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the completion of the sale, the insider now owns 11,412 shares of the company’s stock, valued at $3,399,292.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,149 shares of company stock worth $5,257,201. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MCD shares. Oppenheimer raised their price target on McDonald’s from $315.00 to $330.00 in a research report on Friday, July 28th. Guggenheim raised their price target on McDonald’s from $325.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. KeyCorp lifted their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Friday, July 21st. Royal Bank of Canada boosted their price objective on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, TD Cowen reaffirmed an “outperform” rating and issued a $326.00 target price on shares of McDonald’s in a research note on Thursday, July 27th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.17.

McDonald’s Stock Performance

NYSE:MCD opened at $281.77 on Thursday. McDonald’s Co. has a 1 year low of $230.58 and a 1 year high of $299.35. The business has a fifty day moving average of $288.05 and a 200-day moving average of $285.84. The stock has a market cap of $205.34 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.71 and a beta of 0.64.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.40. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.30 billion. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. McDonald’s’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 EPS. On average, equities research analysts predict that McDonald’s Co. will post 11.49 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be issued a dividend of $1.52 per share. The ex-dividend date is Thursday, August 31st. This represents a $6.08 annualized dividend and a yield of 2.16%. McDonald’s’s payout ratio is presently 55.93%.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.