InTrack Investment Management Inc Acquires 330 Shares of McDonald’s Corporation $MCD

InTrack Investment Management Inc lifted its holdings in McDonald’s Corporation (NYSE:MCD) by 7.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,952 shares of the fast-food giant’s stock after buying an additional 330 shares during the period. InTrack Investment Management Inc’s holdings in McDonald’s were worth $1,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MCD. Nuveen LLC purchased a new stake in McDonald’s in the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD increased its holdings in McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in McDonald’s by 732.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in McDonald’s by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after acquiring an additional 407,982 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday. Barclays increased their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. KeyCorp reissued an “overweight” rating and issued a $335.00 target price (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Piper Sandler increased their target price on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, TD Cowen upped 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. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $324.73.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction 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. This represents a 12.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This represents a 9.19% 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 over the last quarter. 0.25% of the stock is owned by insiders.

McDonald’s Stock Performance

NYSE MCD opened at $294.44 on Thursday. The company has a market capitalization of $210.11 billion, a P/E ratio of 25.23, a P/E/G ratio of 3.02 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The stock has a 50 day moving average price of $306.56 and a 200-day moving average price of $305.94.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The firm 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%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 EPS. As a group, equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

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.