Sonora Investment Management Group LLC Raises Stock Position in McDonald’s Co. (NYSE:MCD)

Sonora Investment Management Group LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,785 shares of the fast-food giant’s stock after purchasing an additional 2,924 shares during the period. McDonald’s accounts for about 1.2% of Sonora Investment Management Group LLC’s holdings, making the stock its 28th biggest holding. Sonora Investment Management Group LLC’s holdings in McDonald’s were worth $15,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of McDonald’s in the fourth quarter worth about $25,000. Atala Financial Inc acquired a new position in McDonald’s during the 4th quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s during the 4th quarter worth approximately $27,000. Collier Financial bought a new stake in shares of McDonald’s in the fourth quarter worth $29,000. Finally, Pinney & Scofield Inc. acquired a new stake in McDonald’s in the fourth quarter valued at $29,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the sale, the insider now owns 12,100 shares in the company, valued at approximately $3,853,850. The trade was a 7.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

McDonald’s Trading Down 0.8%

Shares of McDonald’s stock opened at $304.84 on Tuesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The stock has a market cap of $217.97 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 3.10 and a beta of 0.56. The company’s 50-day moving average price is $312.15 and its two-hundred day moving average price is $302.86.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.73% and a negative return on equity of 181.63%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same period last year, the firm posted $2.70 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.49%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCD. Barclays raised their price objective on shares of McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Loop Capital lowered McDonald’s from a “buy” rating to a “hold” rating and lowered their price objective for the company from $346.00 to $315.00 in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $345.00 target price (up previously from $340.00) on shares of McDonald’s in a report on Monday, May 5th. Wedbush lifted their target price on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Finally, Erste Group Bank lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. Fourteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.48.

McDonald’s Profile

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.