Concurrent Investment Advisors LLC Purchases 701 Shares of McDonald’s Corporation $MCD

Concurrent Investment Advisors LLC increased its position in shares of McDonald’s Corporation (NYSE:MCD) by 1.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,488 shares of the fast-food giant’s stock after buying an additional 701 shares during the period. Concurrent Investment Advisors LLC’s holdings in McDonald’s were worth $11,829,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First American Trust FSB raised its stake in McDonald’s by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after buying an additional 13,234 shares during the last quarter. Banque Transatlantique SA increased its stake in McDonald’s by 58.0% in the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after purchasing an additional 91,313 shares in the last quarter. Hamilton Capital LLC increased its stake in McDonald’s by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after purchasing an additional 819 shares in the last quarter. Red Door Wealth Management LLC increased its stake in McDonald’s by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after purchasing an additional 109 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in McDonald’s by 5.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock valued at $107,867,000 after purchasing an additional 18,393 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Bank of America decreased their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. BMO Capital Markets lifted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. KeyCorp reaffirmed an “overweight” rating and issued a $335.00 price target (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Guggenheim decreased their price target on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Barclays lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, McDonald’s has a consensus rating of “Hold” and a consensus target price of $325.18.

McDonald’s Price Performance

Shares of NYSE MCD opened at $297.07 on Friday. The stock has a market capitalization of $211.99 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.12 and a beta of 0.50. The company has a 50-day moving average price of $306.31 and a 200-day moving average price of $305.74. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32.

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

McDonald’s Announces Dividend

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

Insider Activity

In related news, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock valued at $1,973,407 in the last three months. 0.25% of the stock is owned by company insiders.

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.