Y Intercept Hong Kong Ltd Acquires Shares of 20,626 McDonald’s Corporation $MCD

Y Intercept Hong Kong Ltd acquired a new stake in McDonald’s Corporation (NYSE:MCD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,626 shares of the fast-food giant’s stock, valued at approximately $6,026,000.

Other institutional investors also recently added to or reduced their stakes in the company. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s during the 1st quarter worth approximately $26,000. GFG Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth approximately $29,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several research analyst reports. TD Cowen boosted their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Morgan Stanley set a $335.00 price target on McDonald’s in a research note on Friday, October 17th. Citigroup decreased their price target on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Evercore ISI boosted their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company cut their price objective on McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and an average target price of $323.43.

McDonald’s Stock Performance

Shares of MCD opened at $309.97 on Tuesday. The stock has a fifty day moving average of $306.52 and a two-hundred day moving average of $305.71. The company has a market capitalization of $221.19 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

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

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.4%. McDonald’s’s payout ratio is presently 60.67%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,463 shares of company stock worth $1,692,186. Insiders own 0.25% of the company’s stock.

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.