McDonald’s Corporation $MCD Holdings Raised by Naviter Wealth LLC

Naviter Wealth LLC lifted its holdings in McDonald’s Corporation (NYSE:MCD) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,500 shares of the fast-food giant’s stock after purchasing an additional 74 shares during the quarter. Naviter Wealth LLC’s holdings in McDonald’s were worth $2,776,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the first quarter worth $26,000. Nova Wealth Management Inc. bought a new position in shares of McDonald’s in the first quarter worth $26,000. GFG Capital LLC bought a new position in shares of McDonald’s in the second quarter worth $29,000. Abound Financial LLC bought a new position in shares of McDonald’s in the first quarter worth $30,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the first quarter worth $31,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.0%

Shares of NYSE MCD opened at $300.10 on Tuesday. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market cap of $214.15 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 3.12 and a beta of 0.50. The business has a fifty day simple moving average of $306.23 and a 200-day simple moving average of $305.64.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the business posted $2.97 earnings per share. McDonald’s’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MCD shares. Evercore ISI raised their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Guggenheim decreased their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. KeyCorp reaffirmed an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Finally, Citigroup raised their target price on McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and an average target price of $325.18.

Insider Transactions at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock valued at $1,973,407 over the last 90 days. Company insiders own 0.25% of the company’s stock.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.