Chicago Capital LLC Boosts Position in McDonald’s Corporation $MCD

Chicago Capital LLC boosted its position in shares of McDonald’s Corporation (NYSE:MCD) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,996 shares of the fast-food giant’s stock after purchasing an additional 759 shares during the quarter. Chicago Capital LLC’s holdings in McDonald’s were worth $5,550,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. HFM Investment Advisors LLC purchased a new stake in shares of McDonald’s in the first quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s in the first quarter valued at $26,000. Abound Financial LLC purchased a new stake in shares of McDonald’s in the first quarter valued at $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the first quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of McDonald’s in the first quarter valued at $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 in the last quarter. 0.25% of the stock is owned by insiders.

McDonald’s Trading Down 0.9%

Shares of McDonald’s stock opened at $302.56 on Tuesday. The business’s 50 day simple moving average is $306.62 and its 200-day simple moving average is $306.27. The stock has a market capitalization of $215.91 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. Sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCD. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the company from $346.00 to $315.00 in a research report on Friday, June 6th. The Goldman Sachs Group upgraded 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. Morgan Stanley upped their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Evercore ISI upped 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. Finally, KeyCorp restated an “overweight” rating and set a $335.00 price target (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average price target of $325.86.

McDonald’s Company 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.