McDonald’s Corporation $MCD Shares Bought by Ping Capital Management Inc.

Ping Capital Management Inc. raised its holdings in McDonald’s Corporation (NYSE:MCD) by 23.8% during the 2nd quarter, Holdings Channel reports. The firm owned 2,600 shares of the fast-food giant’s stock after buying an additional 500 shares during the quarter. Ping Capital Management Inc.’s holdings in McDonald’s were worth $760,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale 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 McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction 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 represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

McDonald’s Trading Down 0.1%

MCD stock opened at $300.09 on Friday. The company has a market capitalization of $214.15 billion, a PE ratio of 25.71, a P/E/G ratio of 3.06 and a beta of 0.50. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The business’s fifty day moving average price is $306.88 and its 200 day moving average price is $306.19.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion for 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%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 EPS. Research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders 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 dividend payout ratio is 60.67%.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Barclays lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research report on Thursday, July 10th. Stifel Nicolaus lifted their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Friday, August 22nd. Finally, TD Cowen lifted their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, McDonald’s currently has an average rating of “Hold” and a consensus target price of $325.86.

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.